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Airbus Group SE (EPA:AIR) announced on Monday that it signed a definitive agreement with Spirit AeroSystems (NYSE:SPR) to acquire key Spirit assets in Europe and the United States. The move strengthens Airbus’ control over its supply chain by taking over Spirit’s operations tied to Airbus aircraft production, including facilities in the U.S., France, Morocco, and Northern Ireland. Airbus will also assume Spirit’s manufacturing of wing components for the A320 and A350 models in Scotland.
As part of the agreement, Spirit will pay Airbus $439 million in compensation. Additionally, Airbus signed a memorandum of agreement to provide Spirit with $200 million in non-interest-bearing credit lines to support ongoing operations linked to Airbus programs.
The deal follows a year of negotiations between Airbus, Spirit, and Boeing (NYSE:BA) aimed at dividing Spirit’s industrial assets. Boeing, which originally spun off Spirit in 2005, announced plans last year to reacquire the company for $4.7 billion in stock. Spirit, heavily reliant on Boeing for over 80% of its order book, has recently struggled with quality control issues impacting Boeing’s supply chain.
Airbus said the acquisition will enhance operational stability and financial sustainability for critical Airbus aircraft programs, positioning the company for greater control and efficiency amid ongoing industry challenges.
