Bringing Stability To Commercial Aircraft Programs

Airbus has finalized a definitive deal to acquire all industrial assets and certain sites of Spirit AeroSystems pertaining to production of airframe parts and components for its commercial aircraft production programs. The divestiture is expected to close concurrently with Spirit’s previously announced acquisition by the Boeing Company, approximately in Q3 2025.

Irene Esteves, Executive Vice President and Chief Financial Officer for Spirit AeroSystems said, "For many years, Spirit's collaboration with Airbus allowed us to deliver aerostructures for some of their most important aircraft programs. Entering into this agreement is a significant milestone as we work towards the closing of the Boeing acquisition, to the benefit of Spirit, its stockholders and other stakeholders."

Upon closing of the transaction, Airbus will assume ownership of these Spirit assets:

• the site of Kinston, North Carolina, U.S. (A350 fuselage sections)
• the site of St. Nazaire, France (A350 fuselage sections)
• the site of Casablanca, Morocco (A321 and A220 components)
• the production of components for the A320 and A350 wings in Prestwick, Scotland
• the production of A220 pylons in Wichita, Kansas, U.S.
• the production of A220 wings in Belfast, Northern Ireland
• if a suitable buyer is not identified for the remainder of the Belfast site, the production of the A220 mid-fuselage

Airbus will also purchase the production of A320 and A350 wing components in Prestwick, Scotland. In addition, Spirit intends to sell off its assets in Subang, Malaysia to a third-party buyer, however, if no suitable buyer is identified prior to the closing, Airbus plans to acquire those as well.

Related to this transaction, Spirit also announced a Memorandum of Agreement in which, among other things, Airbus agreed to provide Spirit with non-interesting-bearing lines of credit in an aggregate amount of $200 million to be used by Spirit to support Airbus programs.

FMI:  www.airbus.com/ , www.spiritaero.com/