Recently, Spirit AeroSystems has undergone major changes in its ownership structure. Following a blowout with Alaska Airlines in January, Boeing has agreed to acquire the majority of Spirit AeroSystems for $4.7 billion. In addition to this, Airbus has also acquired certain assets from Spirit AeroSystems for a nominal $1 price tag.
These assets include key components for Airbus aircraft such as A350 fuselage sections, pylons, wings, and mid-fuselage for A220 jets. While the acquisition cost was low, Airbus will be compensated with $559 million from Spirit AeroSystems. This isn’t the first time that Airbus has acquired assets at a low cost; in 2018, the planemaker bought a 50% stake in the Bombardier CSeries, later increasing its ownership to 75% in a $591 million deal.
The decision to purchase assets from Spirit AeroSystems comes after a major incident involving a 737 Max aircraft that lost its door plug midair. The National Transportation Safety Board’s preliminary report indicated that damaged rivets were sent by Spirit to Boeing’s factory, causing the door plug to be opened but not bolted back into place before delivery to Alaska Airlines. The fallout from this incident led to Boeing CEO Dave Calhoun announcing his resignation and the Justice Department considering criminal charges against Boeing.
As the industry grapples with these challenges, the acquisition of assets from Spirit AeroSystems by both Boeing and Airbus is poised to have significant implications for the future of aviation manufacturing.
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