Airbus secures key Spirit AeroSystems assets to strengthen aircraft production

Airbus has finalised a definitive agreement with Spirit AeroSystems to acquire industrial assets related to its commercial aircraft programmes. Under this agreement, Airbus will take ownership of several key Spirit AeroSystems assets. These include the Kinston site in North Carolina, US, which produces A350 fuselage sections, and the St. Nazaire site in France, which also manufactures A350 fuselage sections. Airbus will also acquire the Casablanca site in Morocco, responsible for components for the A321 and A220, as well as the production of A220 pylons in Wichita, Kansas, US. The production of A220 wings in Belfast, Northern Ireland, and the A220 mid-fuselage in Belfast will also be transferred, unless Spirit AeroSystems finds a suitable buyer for the part of the site dedicated to these activities.

Additionally, Airbus will take over the production of wing components for the A320 and A350 at the Prestwick site in Scotland. Spirit AeroSystems has stated its intention to sell the Subang site in Malaysia to a third-party owner.

The compensation for this deal has been adjusted in accordance with the revised transaction perimeter, as outlined in the binding term sheet agreement announced on July 1, 2024. Airbus will receive US$439 million from Spirit AeroSystems, subject to certain adjustments at the time of closing.

This agreement’s conditions and financial impact are in line with the EBIT adjusted and free cash flow before customer financing preliminary estimates set forth in Airbus’ 2025 guidance, released on February 20, 2025.

Through this transaction, Airbus aims to ensure a stable supply for its commercial aircraft programmes, advancing both operational and financial sustainability for crucial Airbus work packages.

The transaction is expected to close, with the official transfer of operations, in the third quarter of 2025, pending regulatory and customary approvals.

Furthermore, Airbus has signed a memorandum of agreement with Spirit AeroSystems, under which it will provide Spirit AeroSystems with non-interest-bearing lines of credit totalling US$200 million. This will support Spirit AeroSystems in its efforts to maintain and enhance Airbus programmes.