Spirit AeroSystems signs divestiture agreement with airbus

Spirit AeroSystems Holdings, Inc. [NYSE: SPR] announced that Spirit has entered into a definitive agreement with Airbus SE to transfer ownership of certain assets and sites involved in the production of Airbus aerostructures to Airbus. The divestiture of these assets is expected to close concurrently with Spirit's previously announced acquisition by The Boeing Company.  Both transactions are subject to regulatory approvals, among other closing conditions, and are expected to close in the third quarter of 2025. 

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At the closing of this transaction, Airbus will take ownership of the following Spirit assets:

• 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.;
• the production of A220 wings in Belfast, Northern Ireland; and
• if a suitable buyer is not identified for the remainder of the Belfast site, the production of the A220 mid-fuselage.

The assets in Subang, Malaysia related to Airbus programmes will also be acquired by Airbus if no suitable buyer is identified before the closing of the transaction.

"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 towards the closing of the Boeing acquisition, to the benefit of Spirit, its stockholders and other stakeholders."

Spirit also announced today that it has entered into a memorandum of agreement with Airbus. In this agreement, Airbus has agreed to, among other things, provide Spirit with non-interest-bearing lines of credit in an aggregate amount of USD 200 million, which will be used by Spirit to support Airbus programs.

Note: This article has been issued by Spirit Aerosystems and has been published by AL Circle with its original information without any modifications or edits to the core subject/data