Spirit AeroSystems To Divest Certain Related Assets To Airbus In Line With Boeing Deal

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(RTTNews) - Spirit AeroSystems Holdings, Inc. (SPR) Monday announced that it has entered into a definitive agreement with aerospace major Airbus SE (EADSY.PK) to transfer ownership of certain assets and sites involved in the production of Airbus aerostructures to Airbus.

The company expects the divestiture of these assets to close concurrently with Spirit's previously announced acquisition by aerospace and defence major Boeing Co. (BA). Both deals are expected to close in the third quarter of 2025, subject to regulatory approvals, among other closing conditions.

In addition, Spirit has entered into a memorandum of agreement with Airbus. Under the deal, Airbus has agreed to, among other things, provide Spirit with non-interest-bearing lines of credit of $200 million, which will be used by Spirit to support Airbus programs.

Following the latest deal closure, Airbus will take ownership from Spirit of 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.; and the production of A220 wings in Belfast, Northern Ireland.

Further, Airbus will buy the remainder of the Belfast site, the production of the A220 mid-fuselage, as well as the assets in Subang, Malaysia related to Airbus programs, if a suitable buyer is not identified for the assets before the closing of the transaction.

Irene Esteves, Spirit AeroSystems Executive Vice President and Chief Financial Officer, 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..."