Boeing Buys Part Of Its Supplier Spirit Aerosystems

Boeing, twenty years after the separation from Spirit AeroSystems, which has had production problems, will buy back part of the company, leaving the rest of its activity in the hands of Airbus, the two business groups announced.

For Boeing, the transaction will be made entirely in shares, at a price of 37.25 dollars (34.66 euros) per share, valuing Spirit AeroSystems at 4,700 million dollars (4,373 million euros), say the two giants of aerospace and aviation industry.

If Spirit's debt is included, the transaction is valued at US$8.3 billion, Boeing also explained in a statement.

Boeing is Spirit's largest customer, with 60% of its revenue coming from the plane builder in 2022, including airframes.

But Spirit is also a strategic supplier to Airbus, for which it produces, in particular, components for the wings.

In a separate statement released today, the European aircraft manufacturer said it had "entered into a binding agreement with Spirit AeroSystems regarding the potential acquisition of major Airbus-related companies."

"We believe this agreement is in the best interests of passengers, our customers, Spirit and Boeing employees, our shareholders and the country," said Boeing President and CEO Dave Calhoun in the company's statement.

Boeing and Spirit AeroSystems confirmed in early March that they were in preliminary discussions to make this acquisition.

Spirit AeroSystems, created in 2005 by Boeing, is in reality the result of the grouping of several of its activities into an independent company.

This company and Boeing have been under scrutiny since a nose fuselage door on a Boeing 737 MAX 9 operated by Alaska Airlines came loose mid-flight on January 5 of this year.