The A321neo is the largest member of Airbus’ A320neo FamilyThe A321neo is the largest member of Airbus’ A320neo Family

July 01 2024 04:08:55 — Airbus and Spirit AeroSystems entered into a binding term sheet agreement. The agreement encompasses the production of A350 fuselage sections in Kinston, North Carolina, U.S., and St. Nazaire, France; the A220’s wings and mid-fuselage in Belfast, Northern Ireland, and Casablanca, Morocco; and the A220 pylons in Wichita, Kansas, U.S.

Ensuring Stability and Sustainability in Airbus Supply Chain

This strategic move by Airbus aims to ensure the stability of supply for its commercial aircraft programmes. The acquisition is designed to provide a more sustainable operational and financial future for the various Airbus work packages currently managed by Spirit AeroSystems.

Financial Terms of the Agreement

Under the terms of the agreement, Airbus will acquire these activities for a nominal consideration of $1.00. Additionally, Spirit AeroSystems will compensate Airbus with a payment of $559 million, subject to adjustments based on the final transaction details.

Conclusion

The agreement between Airbus and Spirit AeroSystems represents a significant step towards securing and stabilizing the supply chain for Airbus’s commercial aircraft programmes. This acquisition is expected to enhance the operational and financial sustainability of the production activities involved.

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By Lisa Luckas

Lisa Luckas is a Sr. Business News Editor at Nobot.News.

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