Airbus to Acquire Spirit AeroSystems’ U.S. and U.K. Assets in Major Deal with Boeing

By Evans Momodu, published 14:30

Airbus will acquire key U.S. and U.K. assets from Spirit AeroSystems as part of a strategic split with Boeing. Learn how this move impacts global aerospace manufacturing below.

Airbus has finalised an agreement to acquire key U.S. and U.K. operations from Spirit AeroSystems, the companies announced Monday, marking a pivotal step in the transatlantic division of the struggling aerospace supplier alongside Boeing.

Last year, Boeing agreed to repurchase Spirit AeroSystems, the aerospace structures firm it spun off two decades ago, in a $4.7 billion stock deal. At the same time, Airbus moved to absorb Spirit’s loss-making Europe-focused operations.

Two significant plants involved in the transfer are located in Kinston, North Carolina — where Spirit manufactures a crucial part of the Airbus A350 fuselage — and in Belfast, Northern Ireland, which produces carbon-fiber wings for the Airbus A220.

“Finalising this agreement is a major milestone as we progress toward closing the Boeing acquisition, to the benefit of Spirit, its shareholders, and other stakeholders,” said Irene Esteves, Spirit’s Chief Financial Officer.

As part of the deal, Airbus will extend non-interest-bearing credit lines totaling $200 million to Spirit. Additionally, Spirit will compensate Airbus with a $439 million payment, according to statements from both companies.

Letters to employees from Boeing Commercial Airplanes CEO Stephanie Pope and Spirit CEO Pat Shanahan suggest that certain operations in Belfast and Prestwick, Scotland, not acquired by Airbus, will transition to Boeing.

Spirit confirmed that Airbus will take over the A220 wing production in Belfast. If a suitable buyer cannot be found, Airbus will also absorb the A220 mid-fuselage production. Furthermore, Airbus will assume control of wing component production for the A320 and A350 at the Prestwick facility.

Boeing’s decision to reacquire Spirit comes as it ramps up production of its bestselling 737 MAX, following several operational setbacks in 2024.
Spirit, which manufactures fuselages for the 737 MAX, had raised concerns last year about its financial viability, receiving interim financial support from both Airbus and Boeing.

Despite reporting $890 million in total liquidity in February, Spirit AeroSystems expects to burn between $650 million and $700 million in free cash during the first half of 2025.

Airbus CFO Thomas Toepfer recently told shareholders that the Spirit agreement would be completed by the end of April, while the broader Boeing deal is slated to close by the third quarter.
Source: CNN