Boeing to Acquire Spirit AeroSystems in $8.3 Billion Deal

“The total transaction value is approximately $8.3 billion, including Spirit’s last reported net debt,” Boeing said in a statement.

Spirit AeroSystems, based in Wichita, Kansas was part of Boeing until 2005, when the company was split off and sold to private equity investors. The company manufactured fuselages and other components for the Boeing 737.

According to National Transportation Safety Board investigators, Spirit AeroSystems built the fuselage with the door plug that failed in flight on January 5, resulting in an explosive decompression and a worldwide temporary grounding of the 737 Max 9 fleet.

“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—centered on safety and quality.”

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

As part of the transaction, Boeing will work with Spirit to ensure the continuity of operations supporting Spirit’s customers and programs it acquires, including working with the U.S. Department of Defense and Spirit customers regarding defense and security missions.

As reported earlier this year by FLYING, the discussion to put the Spirit AeroSystems back under the Boeing umbrella was seen as an effort toward improving quality control over components and their installation in Boeing products.

Editor’s Note: This story first appeared on FlyingMag.com.