Spirit AeroSystems signs key assets divestiture agreement, loan deal with Airbus

Airbus and major aircraft components supplier Spirit AeroSystems jointly announced on April 28, 2025, that the parties have entered into a definitive agreement to transfer ownership of certain assets and sites involved in the production of Airbus aerostructures to Airbus.

According to a statement issued by Spirit, the divestiture of these assets is expected “to close concurrently with Spirit’s previously announced acquisition by The Boeing Company.”  Both transactions are subject to regulatory approvals, among other closing conditions, and are expected to close in the third quarter of 2025.  

EQRoy / Shutterstock.comAccording to an Airbus statement on the deal, Airbus will acquire and take ownership of the following Spirit industrial assets dedicated to Airbus commercial aircraft programmes:

the site of Kinston, North Carolina, US (A350 fuselage sections);

the site of St. Nazaire, France (A350 fuselage sections);

the site of Casablanca, Morocco (A321 and A220 components);

the production of components for the A320 and A350 wings in Prestwick, Scotland;

the production of A220 pylons in Wichita, Kansas, US;

the production of A220 wings in Belfast, Northern Ireland; and

If a suitable buyer is not identified for the remainder of the Belfast site, the production of the A220 mid-fuselage.
The assets in Subang, Malaysia related to Airbus programs will also be acquired by Airbus if no suitable buyer is identified by Spirit before the closing of the transaction.

Spirit also announced that it has entered into a Memorandum of Agreement (MoA) with Airbus. Under this agreement, Airbus has agreed to, among other things, provide Spirit with non-interest-bearing lines of credit in an aggregate amount of $200 million, which will be used by Spirit to support Airbus programs.

The compensation amount has been adjusted to reflect this revised transaction perimeter, in line with the provisions of the binding term sheet agreement announced on July 1, 2024. Airbus will be compensated by payment of $439 million from Spirit AeroSystems, subject to certain adjustments at the closing of the deal.

Karolis Kavolelis / ShutterstockAirbus states that with the objectives of both signed deals in operation, it aims to “ensure stability of supply for its commercial aircraft programmes through a more sustainable way forward, both operationally and financially, for key Airbus work packages.”

“For many years, Spirit’s collaboration with Airbus allowed us to deliver aerostructures for some of their most important aircraft programs,” said Irene Esteves, Spirit AeroSystems Executive Vice President and Chief Financial Officer. “Entering into this agreement is a significant milestone as we work towards the closing of the Boeing acquisition, to the benefit of Spirit, its stockholders, and other stakeholders.”

Not just Airbus

In February 2025, Spirit AeroSystems shareholders agreed to a Boeing buyout that would see the Wichita-based manufacturer rejoin the planemaker 20 years after going their separate ways. Boeing’s acquisition of Spirit was approved in a vote during a special meeting of the company’s shareholders and confirmed on January 31, 2025. 

Details regarding the merger were first made public in summer 2024, with Boeing expected to pay around $4.7 billion under the terms of the agreement. 

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