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8h ago

Airbus Finalizes Spirit AeroSystems Asset Acquisition in Key Supply Chain Move

The deal secures Airbus' control over critical production sites while raising concerns for 2,000 Belfast workers left outside the agreement.

The logo of Airbus is pictured outside the Airbus facility in Saint-Nazaire, France, November 7, 2023. REUTERS/Stephane Mahe/File Photo
Spirit AeroSystems headquarters is seen in Wichita, Kansas, U.S. December 10, 2024.
The deal for the Belfast plant is complex and has created uncertainty for many employees
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Overview

  • Airbus has completed its acquisition of Spirit AeroSystems' facilities in Kinston, Belfast, and Prestwick, among other sites, as part of a coordinated carve-up with Boeing.
  • The agreement includes $200 million in non-interest-bearing credit lines from Airbus to Spirit and $439 million in compensation from Spirit to Airbus.
  • The move aims to stabilize Airbus' production of A220, A320, and A350 aircraft by bringing key aerostructure manufacturing in-house.
  • Unions have expressed alarm over the uncertain future of 2,000 Belfast workers excluded from the deal, urging government intervention to safeguard jobs.
  • Boeing's portion of the Spirit acquisition, valued at $4.7 billion, is expected to close by mid-2025, with regulatory approvals still pending.