Shareholders Approve Buyout, To Finalize In 2025

In a move designed to restore industry confidence in its infrastructure, Boeing and Spirit Aerosystems began merger talks in early- to mid-2024, with Spirit shareholders approving the acquisition by Boeing during a special shareholder meeting on January 31, 2025.

With the vote, Boeing brings the Wichita-based manufacturer back under its wing after separating 20 years ago. After making the acquisition a priority in 2024, Boeing is anticipated to pay around $4.7 billion for Spirit and the deal is expected to close in 2025.

Pat Shanahan, Spirit Aerosytems CEO, said in July 2024 that the merger would lead Boeing to becoming a “faster and more nimble” organization.

Boeing had subcontracted certain component manufacturing operations in 2005 intending to lower expenses and enhance production effectiveness. Spirit was established after the sale of Boeing’s Wichita division and continued to build the fuselages for the 737 and 787 aircraft, as well as other manufacturers such as Airbus.

When Boeing’s interest in regaining Spirit became public, Airbus and Spirit Aerosystems entered a binding agreement under which Airbus would assume ownership of certain Spirit assets that were used to support its programs. Those include production of the A350 fuselage sections and A220 wings, mid-fuselage, and pylons.

Irene Esteves, Spirit AeroSystems Chief Financial Officer said, “Our shareholder’s resounding approval today represents an important milestone in our carefully planned merger with Boeing. As we continue executing our transition plan, we remain focused on Spirit’s foundational principles of safety, compliance and quality.”

FMI:  www.boeing.com/