Airbus will buy certain activities essential to several of its aircraft programs from the American equipment manufacturer Spirit Aerosystems, which will itself be reintegrated by Boeing, the European giant announced on Monday.
“Airbus has entered into a binding agreement with Spirit AeroSystems relating to the potential acquisition of major activities linked to Airbus”, affirmed the European aircraft manufacturer which will be “compensated by Spirit AeroSystems to the tune of 559 million dollars, for a nominal consideration of $1.00 subject to adjustments, particularly depending on the final scope of the transaction.
Boeing is by far Spirit’s largest customer, with 60% of its revenue coming from the American aircraft manufacturer in 2022. But the equipment manufacturer is also a strategic supplier to its competitor Airbus.
On Monday morning, Boeing confirmed that it was buying Spirit’s activities – excluding those sold to Airbus – for $4.7 billion. The total amount of the transaction amounts to $8.3 billion including debt.
The acquisition envisaged by Airbus, subject to a due diligence process by the equipment manufacturer in difficulty, would thus relate to “major activities linked to Airbus”, according to the European group.
It would concern in particular the production of fuselage sections of the A350 located in Kinston (North Carolina) and Saint-Nazaire (France), wings and the central fuselage of the A220 in Belfast (Northern Ireland) and Casablanca (Morocco), as well as pylons of the A220 in Wichita (Kansas).
“With this agreement, Airbus intends to ensure the stability of supply for its commercial aircraft programs through a more sustainable evolution, both operationally and financially, of the various Airbus work packages of which Spirit AeroSystems is today. today responsible”.
Launched into an outsourcing policy to retain only the final assembly of aircraft, Boeing separated in 2005 from its factory in Wichita (Kansas), specializing in aerostructures, giving birth to Spirit Aerosystems. The company has since diversified its customers and grown through acquisitions.
In difficulty due to recurring quality and production problems, Spirit AeroSystems has been under surveillance since an incident on January 5, when a cap holder on the cabin of an Alaska Airlines Boeing 737 MAX 9 came loose. during the flight.
These difficulties led Boeing, itself subject to several investigations for non-compliance problems, to announce in early March that it was considering reinstating Spirit, which until 2005 was part of the American giant. It was unthinkable for Airbus that its main competitor would become one of its strategic suppliers.
The executive president of Airbus Guillaume Faury said at the end of April he was monitoring the situation “closely”.
“We do not want significant work packages to be provided by our main and only competitor,” he stressed.
