Spirit today announced a definitive merger agreement under which Boeing will acquire Spirit in a transaction with an equity value of approximately $4.7 billion and an enterprise value of approximately $8.3 billion including Spirit’s last reported net debt. Simultaneously, Spirit announced a binding term sheet with Airbus under which Airbus will assume ownership of certain Spirit operations that serve Airbus programs. Learn more: http://spr.ly/6049g7i7z
RSR Srikanth
3w
Very much on the cards for some time .. does it mean that Spirit will be split into 2 .. one goes to Boeing and another goes to Airbus ??? Any clarity on this??
Somewhat surprised the DOJ along with the FAA permitted such transaction given the documentation inconsistency and finger pointing between both of them. And yes, Boeing is trying to influence the customers with quality initiatives but the reality lies in fixing Boeing, addressing their executives inner circle and then endeavor to create vertical integration. Until then, place politics aside to gain flyers and new customers trust !!
Ken Hardy
3w
Spirit will become a shell company as Boeing and Airbus pull more parts production from the Kansas plant until it closes
Perhaps it's time to consider claw back of all the stock options & bonus given the Boeing upper management that let things get in the big mess they are in now especially anyone involved in the financial end of the business. Also immediately fire anyone with GE management In their background.
What will happen to the defense side of Spirit?
Brian Woods
3w
Jeff Turner are you interested in being president again? Way too much bloviating on what leadership is these days. Mr Turner is a gentle giant and one who lived the principles of great leadership while at the helm at Spirit Aerosystems. He lived out what most people just write in catchy phrases.
Mark Freel
2w
In what way is this latest stunt by Boeing materially going to improve either the end product or the reputation of once great aviation giant? This smoke and mirrors stunt will change nothing, which will become evident in pretty short order. What it appears they have managed to do however is pull the rug out from under one of the oldest surviving production aircraft manufacturers (Short brothers) with the potential breakup of manufacturing operations and almost inevitable forced redundancy of 60% of the workforce. All the while all the top executives at Boeing who have presided over the decay since the MD merger are filthy rich and not held to account for any of it.
Bill Jones
3w
I think they refer to that as a sustainable business. They will probably get billions in government green policy tax incentives and funding because it has the word sustainable in it. Sad, Boeing was once a leader in technology. Then the accountants and marketing folks took over. Destroyed Boeing but made themselves rich.
Dave Bunker
3w
So Boeing failed in its oversight and own internal processes and this solution will resolve that problem? Have there been reports from Airbus regarding quality issues with Spirit. Sounds like the blame game is in town.
Automotive Industry
3wHow to run Boeing for Dummies - 1st Lesson: #1 sell a critically important part of your manufacturing for big $$$ #2 use those $$$ to fund big bonuses to top executives. #3 push prices you pay that manufacturer down to unsustainable low levels. You're too big of a part of their business for them to say no to, so they push their employees crazy hard to try to make it work. #4 When that asinine policy blows up in your face like a door panel, buy the manufacturer back. #5 Get your $$$ back on those big bonuses paid to top executives with the big $$$$ you made selling the manufacturing in the first place. Wait - hold the phone - are you telling me they can't do #5^^^