Both Boeing and Spirit Aerosystems have confirmed they are in preliminary discussions to potentially reintegrate Spirit AeroSystems as part of Boeing again.
""We believe that the reintegration of Boeing and Spirit Aerosystems' manufacturing operations would further strengthen aviation safety, improve quality and serve the interests of our customers, employees, and shareholders,"" Boeing said in a statement.
Both companies reiterated that there was no assurance that the companies would reach an agreement and were not currently adding further comment to the statements. The Boeing statement added: ""We are committed to finding ways to continue to improve the safety and quality of the airplanes on which millions of people depend each and every day."" Spirit Aerosystems added that it is ""committed to enhancing shareholder value"" and was regularly seeking ""opportunities to further this objective.
Spirit Aerosystems had reported a net loss of $633 million in 2023, stating it expected long-term financial renegotiations with Airbus surrounding losses in its A350 and A220 program to conclude by the end of February, 2024. It added that it was looking to shift work to the Airbus supply chain as a cost saving measure.
The recently announced negotiations will perhaps bring some uncertainty surrounding Spirit Aerosystem's Bombardier aerostructures and aftermarket services businesses based in Belfast, Northern Ireland, which it completed its acquisition of the businesses in 2020. Its Bombardier businesses primarily supply Airbus with fuselage and wing components for its A220 aircraft on top of supplying for Bombardier business jet.
In an 8K SEC Filing from February 26, 2024, Spirit Aerosystems said that one factor that could cause its 2024 outlook to ""differ materially"" is its ""reliance on Boeing for a significant portion of our revenues"" as the impact of the Boeing 737 MAX grounding from the Federal Aviation Administration (FAA) remains to be seen.
Boeing in discussions to acquire Spirit Aerosystems
