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Airbus has finalised a deal to take over Spirit AeroSystems’ facilities that make vital components for some of its aircraft programmes, clearing the way for US rival Boeing to complete a takeover of the supplier that it spun out two decades ago.
The European aerospace and defence group said on Monday it would take over work at sites spanning Kansas, North Carolina, Northern Ireland, Morocco and France.
It will also take charge of a site in Prestwick, Scotland, which makes wing components for its A320 and A350 aircraft programmes, as well as the wing manufacture for its A220 programme at Spirit’s facility in Belfast, Northern Ireland.
There is still uncertainty, however, over what happens to the rest of the Belfast plant. Airbus said on Monday that it would take over the A220 mid-fuselage work at the site unless a third-party buyer can be found.
Spirit and Boeing have been looking for a third-party buyer for the other work done at Belfast. The site, which is highly integrated, also makes fuselage sections and other critical components for a range of business jets built by Canada’s Bombardier. It also does maintenance work for other companies. If a buyer cannot be found then Boeing will own the non-Airbus work at Belfast.
Airbus said that the transaction “aims to ensure stability of supply for its commercial aircraft programmes through a more sustainable way forward, both operationally and financially”.
It will provide non-interest bearing credit lines worth $200mn to Spirit as a part of the deal, the companies said. Airbus said it would be compensated by a $439mn payment from Spirit.
The deal paves the way for Boeing to complete the $4.7bn takeover of the US supplier. Spirit, which is based in Wichita, Kansas, makes the fuselage for Boeing’s best-selling 737 Max aircraft. It has struggled financially for years.
Boeing agreed to take it over last year in the wake of a mid-air blowout of a section of one of its 737 aircraft that had been built by Spirit.
