Boeing is to acquire fuselage manufacturer Spirit AeroSystems. The merger has a total transaction value of approximately $8.3 billion, including Spirit’s last reported net debt.

“We believe this deal is in the best interest of the flying public, our airline customers, the employees of Spirit and Boeing, our shareholders and the country more broadly,” said Boeing President and CEO Dave Calhoun. “By reintegrating Spirit, we can fully align our commercial production systems, including our Safety and Quality Management Systems, and our workforce to the same priorities, incentives and outcomes – centred on safety and quality.”

Boeing’s acquisition of Spirit will include substantially all Boeing-related commercial operations, as well as additional commercial, defence and aftermarket operations.

READ: Unite seeks ‘;cast-iron guarantees’ for Spirit Aerosystems’ workers amid Boeing acquisition

Airbus SE and Spirit have also entered into a binding term sheet under which Airbus will acquire, assuming the parties entered into definitive agreements and receipt of any required regulatory approvals, certain commercial work packages that Spirit performs for Airbus concurrently with the closing of the Boeing-Spirit merger.

In addition, Spirit is proposing to sell certain parts of its operations, including those in Belfast, Northern Ireland (non-Airbus operations), Prestwick, Scotland, and Subang, Malaysia in a move which has raised concerns with trade unions. 

The transaction is expected to close mid-2025 and is subject to the sale of the Spirit operations related to Airbus commercial work packages as well as regulatory and Spirit shareholder approvals.