Boeing acquires Spirit AeroSystems; plans asset sale to Airbus

Home
»
Stories
»
2024
»
July

GLOBAL INDUSTRY NEWS

Qatar Airways In Talks To Buy 20% Of Virgin Australia - Airline Ratings

Boeing Will Buy Spirit AeroSystems For $4.7 Billion In Stock & Airbus Enters $559 Million Agreement For Its Parts

Bombardier Global Jet Production Stops in Toronto as Union Workers Strike | AIN

Global Industry News

Boeing acquires Spirit AeroSystems; plans asset sale to Airbus

Joe Petrie Editor & Chief | AviationPros

By Sky Industry News

Jul 1, 2024

Spirit AeroSystems has confirmed a merger agreement with The Boeing Company, where Boeing will acquire Spirit for $37.25 per share in Boeing common stock. This acquisition values Spirit at approximately $4.7 billion in equity and an enterprise value of about $8.3 billion, considering the company's net debt. The offer marks a 30% premium over Spirit's stock price on February 29, 2024.

Patrick M. Shanahan, president and CEO of Spirit, expressed confidence in the deal's benefits for shareholders and other stakeholders, highlighting the integration potential of both companies' manufacturing and engineering capabilities.

Additionally, Spirit disclosed a binding term sheet with Airbus SE to negotiate the sale of certain assets serving Airbus programs alongside Boeing's acquisition closure. Shanahan stated that this move would enhance program integration under Airbus ownership.

Get the Newsletter

Sign-up to receive weekly round up of news from Sky Industry News

By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

Under the merger terms with Boeing, Spirit shareholders will receive shares based on an exchange ratio linked to Boeing's average share price prior to closing. The ratio varies depending on Boeing’s stock price but includes defined floor and ceiling limits.

The merger agreements with Boeing and Airbus received unanimous approval from Spirit's Board of Directors. Both deals are contingent upon regulatory approvals and shareholder consent, with expected completion by mid-2025.

Spirit also intends to divest operations in Subang (Malaysia), Prestwick (Scotland), and Belfast (Northern Ireland) related to non-Airbus programs.

Morgan Stanley & Co. LLC is leading financial advisement for Spirit, assisted by Moelis & Company LLC, while Skadden, Arps, Slate, Meagher & Flom LLP provides legal counsel.

Organizations Included in this History

AviationPros

More News

Delta partners with chef José Andrés for new in-flight meals beginning November

Delta Air Lines will introduce new in-flight menu options created by celebrity chef José Andrés starting November 4.

Oct 25, 2025

TPG reviews award pricing after launch of Blue Sky partnership between JetBlue and United

The Blue Sky partnership between United Airlines and JetBlue launched today, allowing members of both airlines’ loyalty programs to earn and redeem points across the two carriers.

Oct 25, 2025

Air Canada announces major US route expansion from Toronto’s Billy Bishop airport

Air Canada is set to expand its presence at Billy Bishop Toronto City Airport (YTZ) by introducing four new nonstop routes to the United States in 2026.

Oct 25, 2025