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The $4.7 billion purchase would reverse Boeing's longtime strategy of outsourcing key work on its passenger planes.
Boeing agreed to buy back Spirit AeroSystems for $4.7 billion in stock and Airbus moved to take on the supplier's loss-making Europe-focused activities, sending shares in all three companies higher in a rare transatlantic break-up.
Airbus said it would also receive $559 million in compensation from Spirit AeroSystems. Boeing is buying the bulk of the business.
Boeing agreed to buy Spirit Aerosystems, one of its major suppliers and manufacturing partners, as part of its plan to overhaul the aircraft maker’s badly damaged safety reputation.
European planemaker Airbus will take over core activities at four Spirit Aerosystems plants as arch-rival Boeing agrees to buy the world's largest standalone aerostructures company in a $4.7 billion stock deal.
Almost seven years after picking up Bombardier Inc.’s troubled C-Series aircraft program for next to nothing, Airbus SE is going discount shopping once more — this time for assets being offloaded by Spirit AeroSystems Inc.
The Boeing Company (NYSE: BA) recently signed a contract to buy back Spirit AeroSystems (NYSE: SPR), its largest independent supplier of aerostructures, which spun off from the jet maker in 2005.
Patrick Shanahan is seen as the logical choice due to his engineering background and his ability to turn around poorly performing programs.
The plane maker’s purchase of Spirit AeroSystem, a supplier it spun off in 2005, exemplifies a realization dawning on corporate America: Outsourcing isn’t all it was once cracked up to be.
Airbus is to take over part of the Spirit AeroSystems operation in Belfast. Spirit is Northern Ireland’s most significant manufacturing employer, with about 3,500 staff. Airbus is taking control of the part of the business which makes wings and fuselage for its A220 jet.
The sale required complex three-party negotiations that will break Spirit up. The deal is pending regulatory review, which can take several months.
The CEO of the beleaguered fuselage supplier Spirit AeroSystems, who successfully engineered the plan for Boeing to buy the company 20 years after selling it, could soon be Boeing’s top boss.
Boeing is bringing key supplier Spirit AeroSystems back under its wing. Why it matters: Moving the fuselage maker in-house — Boeing sold the business nearly two decades ago — is seen as a necessary step to correct quality-control issues that have plagued both companies.
Boeing agreed to acquire Sprit Aero for $37.25 a share in stock. The deal values Spirit at about $8 billion, including the company’s debt.
Boeing plans to acquire Spirit AeroSystems for $4.7 billion, aiming to improve aircraft quality and safety amid increased oversight from Congress, airlines, and the Department of Justice. “We believe this deal is in the best interest of the flying public,
We believe this deal is in the best interest of the flying public' A few weeks prior to the official announcement, reports started to swirl that Boeing was looking toward Spirit
Key Takeaways Boeing agreed to reacquire Spirit AeroSystems for $4.7 billion as the troubled plane manufacturer moves to strengthen control of its supply chain.Spirit makes fuselages for Boeing's 737 family of planes,
CNBC's Phil LeBeau joins 'Squawk Box' to report on Boeing as the plane maker announces plans to buy fuselage maker Spirit AeroSystems in a $4.7 billion deal.
Boeing announced plans to acquire key supplier Spirit AeroSystems for $4.7 billion, a move that it says will improve plane quality and safety amid increasing scrutiny by Congress, airlines and the Department of Justice.
Bombardier, Inc. (BBD-B.TO) announced Tuesday it expects its supply contracts to be maintained to the highest standards of quality
Boeing said in March that it was in talks to acquire fuselage maker Spirit AeroSystems. The deal comes after a big leadership shake-up at Boeing and a midflight door panel blowout that sparked a fresh safety crisis.
Canadian aircraft make Bombardier said it remained actively engaged with Spirit Aerosystems as part of its normal business under existing contracts with the troubled fuselage maker that Boeing has agreed to buy in a $4.
At Bombardier (BBD-B.TO), we design, build, modify and maintain the world’s best-performing aircraft for the world’s most discerning people and businesses, governments and militaries. That means not simply exceeding standards,
Improving the fuselage maker's operations will be a complicated task that takes years. Amid all their other problems, it's not clear Boeing management knows what to do.
The Department of Justice plans to charge plane manufacturer Boeing with fraud after it allegedly violated an agreement that shielded it from prosecution over fatal crashes involving its 737 Max jets,
Analyst Kristine Liwag from Morgan Stanley maintained a Hold rating on Boeing (BA – Research Report) and keeping the price target at
Boeing announced on Monday that they have agreed to a definitive merger agreement to acquire Spirit AreoSystems. 7/1/24
Boeing previously owned Spirit, and the purchase would reverse a longtime Boeing strategy of outsourcing key work on its passenger planes.
Boeing Co. agreed to buy back Spirit AeroSystems Holdings Inc. for $37.25 a share in an all-stock deal that values the supplier at $4.7 billion, unwinding
Boeing announced plans to acquire key Wichita-based Spirit AeroSystems for $4.7 billion ($37.25 per share). Yahoo Finance
Boeing will reverse the 2005 spin-off of this critical division and will need to stabilize production at multiple facilities.
The multibillion-dollar deal will reverse a decision the plane maker made two decades ago to outsource production of key parts to independent suppliers.
Boeing (NYSE:BA) agreed to acquire Spirit AeroSystems (NYSE:SPR) for $37.25 a share in an all-stock deal that had been expected for several months, the companies announced on Monday. Analysts at Wall Street banks offered opinions on what the deal could mean for Boeing (BA) as the company seeks to boost output of planes and overcome serious doubts
The acquisition at a time when Boeing faces major turmoil over safety issues plaguing its aircraft and potential federal criminal charges in the U.S.
Boeing will buy Spirit for $4.7 billion in stock as it looks to improve the safety and quality of its airplanes. Here's what you need to know.
Boeing announced Monday it has agreed to acquire supplier Spirit AreoSystems, a move the company says will improve plane safety and quality. Boeing previously owned Spirit, and the purchase would reverse a longtime Boeing strategy of outsourcing key work on its passenger planes.
Sen. Jerry Moran said he spoke with Lockheed Martin's CEO on Monday about work Spirit currently performs for the defense and aerospace giant in Wichita.
Boeing has announced that it will be buying back Spirit AeroSystems, one of the company's struggling suppliers. This move has led investors to speculate on who will be the next CEO of the planemaker.
Boeing's acquisition of Spirit AeroSystems aims to bolster quality and oversight in the Boeing 737 MAX chain. Read more on how the deal also may help increase production rates.
Airbus said Spirit would pay $559 million before final terms because Airbus is taking over portions of the company that have lost money consistently. The deal also involves Airbus
As Boeing buys back its former Wichita aircraft plant in bid to restore quality control, the company owes this city an apology.
Boeing agreed to buy Spirit AeroSystems, the Wichita, Kansas-based supplier that makes fuselages for the 737 Max jet, in a deal intended to improve quality after a midair door plug blowout.
"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.
Under an all-stock transaction worth $4.7 billion, Boeing will bring back in house a key supplier that it had spun off nearly two decades ago. Spirit, which also builds major airplane parts for Airbus,