Both companies announced Monday that Airbus will take control of several Spirit facilities, including a site in Wichita, Kansas, that produces A220 pylons and a location in Kinston, North Carolina, that builds A350 fuselage sections. Facilities in France, Morocco, Northern Ireland, and Scotland will also be transferred to Airbus’ ownership.
The site in St. Nazaire, France, makes A350 fuselage sections, while the plant in Casablanca, Morocco, makes A220 and A321 components. A220 wings are produced in Belfast, Northern Ireland, and wing components for the A320 and A350 are manufactured at the site in Preswick, Scotland.
Additionally, Airbus could acquire a separate Spirit operation in Belfast and another in Subang, Malaysia, if “suitable” third-party buyers are not found.
“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,” said Spirit’s chief financial officer Irene Esteves.
Airbus said the agreement will create a “more sustainable way forward” for “key Airbus work packages.”
As part of the deal, Spirit has agreed to pay Airbus $439 million, and Airbus will provide Spirit with noninterest-bearing lines of credit worth $200 million to support Airbus programs.
Road to Recovery
It is not entirely clear what