Airbus to acquire assets relating to its aircraft production from Spirit AeroSystems

Airbus has entered into a definitive agreement with Spirit AeroSystems for the acquisition of industrial assets dedicated to its commercial aircraft programs.

As part of this agreement, Airbus will take ownership of the following Spirit AeroSystems assets:

• Kinston, North Carolina site (A350 fuselage sections)
• St. Nazaire, France site (A350 fuselage sections)
• Casablanca, Morocco site (A321 and A220 components)
• Wichita, Kansas production of A220 pylons
• Belfast, Northern Ireland production of A220 wings
• Belfast, Northern Ireland production of the A220 mid-fuselage if a suitable buyer isn’t identified for the remainder of the Belfast site)

Airbus will also acquire the production of wing components for A320 and A350 in Prestwick, Scotland.

Spirit AeroSystems intends to sell the site of Subang, Malaysia to a third-party owner. The assets in Subang related to Airbus programs will also be acquired by Airbus if no suitable buyer is identified before the closing of the transaction.

The compensation amount has been adjusted to reflect revisions in the agreement announced on July 1, 2024. Airbus will receive payment of $439 million from Spirit AeroSystems, subject to certain adjustments at closing.

In a memorandum with Spirit AeroSystems, Airbus also agreed to provide Spirit AeroSystems non-interest-bearing lines of credit valued at $200 million, which Spirit AeroSystems will use to support Airbus programs.

“With this operation, Airbus aims to ensure stability of supply for its commercial aircraft programs through a more sustainable way forward, operationally and financially, for key Airbus work packages,” according to a company press release.

Closing of the transaction and the official transfer of operations is planned in Q3 2025, subject to regulatory and other customary approvals.

“For many years, Spirit’s collaboration with Airbus allowed us to deliver aerostructures for some of their most important aircraft programs,” said Irene Esteves, Spirit AeroSystems executive vice president and chief financial officer. “Entering into this agreement is a significant milestone as we work toward the closing of the Boeing acquisition, to the benefit of Spirit, its stockholders, and other stakeholders.”

In July 2024, Boeing agreed to acquire Spirit AeroSystems in an all-stock transaction at an equity value of approximately $4.7 billion.