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Rabat – Aircraft manufacturing giant Airbus announced today that it reached an agreement with Spirit AeroSystems relating to the potential acquisition of major Airbus operations across different locations around the world, including in Morocco.
The deal would see Airbus taking over the production of the A220’s wings and mid-fuselage in Belfast, Northern Ireland, and in Casablanca, Morocco, a statement from Airbus said.
This agreement also covers the production of A220 pylons in Kansas as well as the production of A350 fuselage sections at facilities in Kinston and St Nazaire in France.
The aerospace company stressed that the agreement seeks to ensure stability of supply for its commercial aircraft programs through a “more sustainable way forward both operationally and financially” for various Airbus work packages that Spirit AeroSystems is responsible for today.
Under the agreement, Airbus will receive a compensation of $559 million from Spirit AeroSystems.
The company reiterated that all parties are interested in working “in good faith” to progress and complete the acquisition as timely as possible. There is no guarantee that a transaction will be concluded, the statement added.
The news comes as Boeing, another aeronautic giant, announced today that it is acquiring $4.7 billion in stocks in Spirit Aero. The two deals will see shares of Spirit Aero completely split between Airbus and Boeing.
“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.
The acquisition follows the Boeing 737 MAX crisis. Since 2018, several Boeing 737 MAX planes have crashed due to technical issues. In January, a near catastrophe occurred when a door plug blew off shortly after the plane took off from Portland in the US.
Following an investigation, Boeing announced major management changes, with the current CEO, Dave Calhoun, announcing that he will step down by the end of 2024.
