Airbus will carve up Spirit AeroSystems with Boeing by taking its US and UK assets | CNN Business

Deal Overview

Airbus has finalized an agreement to acquire certain assets from Spirit AeroSystems, a struggling aerospace supplier. This acquisition is part of a broader deal involving Boeing, which is buying back Spirit AeroSystems for $4.7 billion.

Assets Acquired by Airbus

Key assets acquired by Airbus include:

• A plant in Kinston, North Carolina, producing A350 fuselage parts.
• A plant in Belfast, Northern Ireland, producing A220 carbon wings.
• Potentially, the production of A220 mid-fuselage, depending on finding a suitable buyer.
• Production of wing components for A320 and A350 in Prestwick, Scotland.

Airbus will provide Spirit with $200 million in non-interest-bearing credit lines and receive $439 million in compensation.

Boeing's Role

Boeing is likely to absorb some of Spirit's remaining work in Belfast and Prestwick, Scotland, after the restructuring.

Financial Implications

Spirit AeroSystems had previously raised concerns about its financial viability, prompting aid from both Airbus and Boeing. The company expects significant cash burn in the first half of 2025.

Timeline

Airbus expects to complete its agreement with Spirit by the end of April, while the full Boeing acquisition is expected to close in the third quarter.