Boeing Absorbs Spirit with Airbus Taking Some Parts

Spirit AeroSystems has completed a long-anticipated process through which most of its operations have been acquired by Boeing, while rival airframer Airbus has absorbed some of the group’s assets. U.S.-based Spirit delisted from the New York Stock Exchange as the dual transactions were concluded on Monday morning.

Boeing has absorbed all the Spirit operations that support its airliner and military programs. These include fuselages for the 737 family, plus aerostructures for the 787, 777, and 767, and fuselages for the P-8 and KC-46 defense platforms.

Conversely, Airbus has acquired operations that contribute substantially to its civil programs. These assets include A350 fuselage production lines in North Carolina and France, the A220 wing and mid-fuselage facility in Northern Ireland, and component shops for multiple aircraft types in Morocco and Scotland. A220 pylon production is to be moved from Wichita to a site near Toulouse in France.

Under a deal brokered with Spirit and Boeing, Airbus has received $439 million in compensation for agreeing to take on the assets. It also received some further settlements to cover liabilities.

Boeing has merged most of Spirit’s aerostructures business with its Commercial Airplanes business unit. The aftermarket business is now part of its Global Services division, while Spirit’s defense work will operate independently. Boeing has retained parts of Spirit’s operation at Belfast in Northern Ireland.