Airbus has completed an agreement to acquire a number of assets from Spirit AeroSystems, the two companies said on Monday, completing a major step in the transatlantic split of the troubled supplier with U.S. rival Boeing.
The agreement will see the European aircraft maker take over part of Spirit AeroSystems' Belfast manufacturing facility, where carbon fibre wings for the A220 are made.
Last year, Boeing agreed to buy Spirit AeroSystems 20 years after it was spun off for $4.7 billion (€4.1 billion) in shares, while Airbus decided to focus on its loss-making European operations.
The unique move by rival aviation giants to prevent the collapse of the world's largest independent supplier of aircraft structures comes after years of financial pressure on Spirit, which reached a peak in the recent Boeing 737 MAX crisis.
Other plants to be transferred to Airbus include Kinston, North Carolina, where Spirit makes a key part of the A350 fuselage. Some operations in Morocco and France will also be included.
Airbus said it would also acquire the A320 and A350 wing component manufacturing facility in Prestwick, Scotland.
As part of the deal, Airbus will receive $439 million in compensation for taking over Spirit's loss-making manufacturing operations, though that's down from the $559 million originally planned due to changes in the scope of the deal.
However, both companies said they expect the complex three-way deal to close in the third quarter, rather than mid-year as previously indicated.
During that time, Airbus will provide Spirit with new $200 million in interest-free credit lines, the companies said.
The deal raises questions about part of the historic Short Brothers plant in Belfast, the North's biggest manufacturing employer, which was first sold to Canada's Bombardier, then Spirit and now Airbus.
Britain's largest trade union Unite has called on the British government to prevent the break-up of Spirit, which employs 2,600 people in Northern Ireland.
Spirit said Airbus would acquire the A220 wing production facility in Belfast. If no suitable buyer is found, Airbus would also take over A220 mid-fuselage production at the facility.
As well as supplying Airbus, Belfast-based Spirit makes parts for Bombardier's private jets and carries out defence and space work. It posted a loss of $338 million in 2023.
Airbus to lay off 2,500 people as part of economic recovery efforts… Read more
In letters sent to employees this month, Boeing Commercial Airplanes CEO Stephanie Pope and Spirit CEO Pat Shanahan noted that some non-Airbus work in Belfast could automatically shift to Boeing unless an alternative solution is found.
The decision to move forward with plans to dismantle Spirit and shore up production lines comes as Boeing ramps up production of its
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