Boeing holds discussions to acquire supplier Spirit AeroSystems
With Spirit AeroSystems under scrutiny for 737 Max manufacturing issues, Boeing is considering buying back its former aerostructures unit.
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According to a Wall Street Journal report, Boeing is in preliminary discussions to reacquire Spirit AeroSystems (Wichita, Kan., U.S.), a move that would reclaim control of its struggling former aerostructures unit that has been the center of numerous quality issues affecting the 737 Max.
Discussions were later confirmed on March 1 by both aerospace entities, with Boeing stating, “We have been working closely with Spirit AeroSystems and its leadership to strengthen the quality of the commercial airplanes that we build together.”
Spirit was created in 2005 when Boeing sold some of its plants in a push to focus on final assembly. In addition to struggling financially for many years, the aerospace company “has been plagued by production problems and quality lapses,” exemplified by the Alaska Airlines door-plug blowout back in January. Both Spirit and Boeing have come under increasing pressure from airline customers and federal regulators alike.
Wall Street notes that “Spirit has hired bankers to explore strategic options and has had preliminary discussions with its former owner, according to people familiar with the matter. The talks may not result in a deal.” Nevertheless, the Federal Aviation Administration (FAA) has given Boeing 90 days to come up with a quality-improvement plan.
Read the complete announcement here.
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