Featured image: Nuno Seletti/Airways

Airbus Enters Agreement with Spirit AeroSystems

DALLAS — Airbus SE has entered into an agreement with Spirit AeroSystems regarding a potential acquisition of major activities.

The binding term sheet agreement is related to Airbus' activities. This will include various elements of aircraft production, including the production of A350 fuselage sections in Kinston, North Carolina, U.S., and St. Nazaire, France; of the A220’s wings and mid-fuselage in Belfast, Northern Ireland, and Casablanca, Morocco; and of the A220 pylons in Wichita, Kansas, U.S.

While aircraft manufacturers are currently battling to keep up with demand for new aircraft, Airbus hopes this arrangement will not only help it to move ahead in an effective and sustainable way but also inspire positive changes in the industry.

Under the agreement, Airbus aims to ensure supply stability for its commercial aircraft programs through a more sustainable way forward, both operationally and financially, for the various Airbus work packages that Spirit AeroSystems is responsible for today.

The transaction would cover the acquisition of these activities, potentially leading to a more robust and efficient aircraft production process.

Delta Air Lines was the U.S. launch customer of the Airbus A220. Photo Jinyuan Liu/Airways

Completing Due Diligence

Entering into definitive agreements remains subject to completing a due diligence process. It's important to note that all parties are fully committed and interested in working in good faith to progress and complete this process as timely as possible.

While there is no guarantee that a transaction will be concluded, this commitment should provide reassurance to all stakeholders.

Airbus will be compensated by Spirit AeroSystems's payment of US$559 million for a nominal consideration of US$1.00, subject to adjustments, including based on the final transaction perimeter.

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