Airbus has announced an agreement with Spirit AeroSystems to acquire some of the latter’s operations, particularly the manufacture of key aircraft components.
The “definitive agreement” could lead to the purchase of Spirit’s specific activities, including the production sites for A350 fuselage sections and A220 pylons in the United States, Airbus said.
The ongoing transaction would also include the acquisition of A220 wings and mid-fuselage production in Ireland and Morocco, the company added.
The deal would ensure supply stability for its commercial aircraft programs, “both operationally and financially,” the European aerospace giant noted.
If the acquisition process is finalized, Airbus will take over the targeted Spirit facilities for a nominal fee of $1 and will receive compensation of $559 million from the contractor.
Prior to completion, the agreement will go through a due diligence process, Airbus said.
The aircraft manufacturer publicized the transaction as its U.S. rival Boeing concluded a $4.7 billion merger deal with Spirit AeroSystems to bolster its commercial planes’ safety features, according to CNN.
