Monday, July 1, 2024
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Airbus SE signs a binding term sheet with Spirit AeroSystems to potentially acquire key Airbus production operations, ensuring supply chain stability and sustainability.
Airbus SE (stock symbol: AIR) has signed a binding term sheet with Spirit AeroSystems for the potential acquisition of key Airbus-related operations. These include the production of A350 fuselage sections in Kinston, North Carolina, and St. Nazaire, France; A220 wings and mid-fuselage in Belfast, Northern Ireland, and Casablanca, Morocco; and A220 pylons in Wichita, Kansas.
This agreement aims to enhance the stability of supply for Airbus’s commercial aircraft programs, promoting a more sustainable operational and financial pathway for the Airbus work packages managed by Spirit AeroSystems.
The proposed transaction entails the acquisition of these operations, with Spirit AeroSystems compensating Airbus $559 million for a nominal consideration of $1.00, subject to adjustments based on the final transaction details.
The next steps involve a thorough due diligence process. While the completion of the transaction is not guaranteed, all involved parties are committed to working diligently and in good faith to finalize the process promptly.
Tags: A220 production, A350 production, Acquisition, aerospace deal, aerospace industry, Airbus SE, Aircraft Manufacturing, Airline News, belfast, Business Agreement, casablanca, commercial aircraft, Due Diligence, Kinston, spirit aerosystems, St. Nazaire, supply chain stability, sustainable operations, Travel, Travel news, Wichita