Shareholders of Spirit AeroSystems have endorsed the pending acquisition of the firm by Boeing Co., an $8.3-billion deal announced in July 2024. "Our shareholder’s resounding approval today represents an important milestone in our carefully planned merger with Boeing," stated CFO Irene Esteves. "As we continue executing our transition plan, we remain focused on Spirit’s foundational principles of safety, compliance and quality.”
Boeing’s purchase is on track to be completed by midyear.
Wichita-based Spirit Aero manufactures fuselage structures for the Boeing 737 MAX and 787 Dreamliner, among other aircraft programs. It has more than 18,000 employees worldwide, mainly in the U.S. but also in France, Malaysia, Morocco, and the U.K.
The business was launched as a Boeing spinoff in 2005, later incorporating operations acquired from Bombardier and other companies.
Spirit Aero’s customers include Airbus and other aircraft manufacturers, and the sale to Boeing includes a side deal that will transfer to Airbus operations in Kinston, N.C., and St. Nazaire, France, that manufacture fuselage sections of widebody A350 jets; and plants in Belfast, Northern Ireland and Casablanca, Morocco, that produce A220 wings and mid-fuselage sections; and an A220 pylon production line in Wichita, Kan.
Spirit Aerosystems has been linked to multiple quality defects in Boeing aircraft over recent years, notably in the January 2024 incident which saw the sidedoor plug of a 737 MAX 9 jet blown open during a flight. That resulted in an ongoing oversight of Boeing’s and Spirit’s 737 MAX operations by the Federal Aviation Administration, as well as drastically reduced production rates and loss of revenues for Boeing.
The acquisition by Boeing is seen as a step to resolving the prolonged quality issues with the 737 MAX program, and to improving the persistent supply chain and scheduling inconsistencies between Spirit Aero and its major customer. The problems with deliveries and product quality are equally felt on Spirit Aero’s side of the relationship, which has struggled with cash flow as a consequence.
"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," former Boeing president and CEO Dave Calhoun stated last July. "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 – centered on safety and quality."
