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Airbus SE (Amsterdam, Netherlands) has entered into a definitive agreement with Spirit AeroSystems (Wichita, Kan., U.S.) for the acquisition of industrial assets dedicated to its commercial aircraft programs.

As part of this agreement, Airbus will take ownership of the following Spirit AeroSystems assets:

• Kinston, North Carolina site (A350 fuselage sections);
• St. Nazaire, France site (A350 fuselage sections);
• Casablanca, Morocco site (A321 and A220 components);
• Production of A220 pylons in Wichita, Kansas;
• The production of wing components for A320 and A350 in Prestwick, Scotland.
• Production of A220 wings in Belfast, Northern Ireland; and
• The production of the A220 mid-fuselage in Belfast, Northern Ireland, unless Spirit AeroSystems identifies a suitable buyer for the part of the site where these activities are located.

Spirit AeroSystems also intends to sell the site of Subang, Malaysia, to a third-party owner.

The compensation amount has been adjusted to reflect this revised transaction perimeter, in line with the provisions of the binding term sheet agreement announced on July 1, 2024. Airbus will be compensated by payment of $439 million from Spirit AeroSystems, subject to certain adjustments at closing.

The conditions and financial impact of this agreement are in line with the EBIT adjusted and free cash flow before customer financing preliminary estimates included in Airbus’ 2025 guidance, as issued on Feb. 20, 2025.

With this operation, Airbus aims to ensure stability of supply for its commercial aircraft programs through a more sustainable way forward, both operationally and financially, for key Airbus work packages.

Closing of the transaction and the official transfer of operations is planned in Q3 2025, subject to regulatory and other customary approvals.

Read “Spirit AeroSystems shareholders approve acquisition by Boeing”

Airbus has also entered into a memorandum of agreement with Spirit AeroSystems, under which Airbus has agreed to, among other things, provide Spirit AeroSystems non-interest bearing lines of credit in an aggregate amount of $200 million, which will be used by Spirit AeroSystems to support Airbus programs.

“For many years, Spirit’s collaboration with Airbus allowed us to deliver aerostructures for some of their most important aircraft programs,” says Irene Esteves, Spirit AeroSystems executive VP and chief financial officer. “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.”