Boeing Acquires Spirit AeroSystems for $4.7B to Address Safety Concerns
Money | July 1, 2024, 5:33 a.m.
Boeing has announced a $4.7 billion deal to purchase Spirit AeroSystems to address recent safety concerns. Boeing will pay $37.25 per share for Spirit AeroSystems, aiming to align production systems and workforce priorities around safety and quality. The acquisition includes various commercial, defense, and aftermarket operations, with plans to continue operations supporting Spirit's customers. This move comes after a mid-air door blowout incident on an Alaska Airlines flight involving Boeing's 737 MAX 9 jet, leading to significant production slowdowns. The deal, subject to regulatory approval, breaks up Spirit with some assets going to Airbus. Boeing's efforts to resolve safety and production issues follow potential criminal charges from the Justice Department related to previous fatal crashes. The acquisition reflects Boeing's commitment to addressing its safety concerns and improving operations.