Nineteen years after splitting, the American aeronautical groups Boeing and Spirit AeroSystems confirmed on Friday that they were holding preliminary discussions with a view to the manufacturer's takeover of its subcontractor, in the hot seat due to a series of management problems. production on Boeing aircraft.
“We are working closely with Spirit AeroSystems and its management to strengthen the quality of the commercial aircraft we manufacture together
,” Boeing said in a statement, confirming information from the
Wall Street Journal
.
“We confirm that our collaboration has resulted in preliminary discussions for Spirit Aerosystems to once again become part of Boeing
,” the group continued, stressing that there was no guarantee, at this stage, that an agreement would be concluded.
“We are committed to finding ways to continue to improve the safety of the aircraft on which millions of people depend every day
,” he noted.
In a separate statement, Spirit also confirmed their discussions while specifying that there was
“no assurance that a definitive agreement would be reached, nor that a transaction would be finalized”
.
There is also no
“timetable, clauses or conditions regarding any such transaction
,” the company continued.
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Boeing, Spirit's first customer
Spirit AeroSystems in particular supplies fuselages to Boeing, which took it out of its fold in 2005. In the wake of the WSJ information, Spirit's stock jumped by more than 10%.
When the New York Stock Exchange closed, it rose 15.31% and its market capitalization reached $3.82 billion.
Boeing stock closed down 1.83%.
According to Boeing,
“the reunification (...) of production operations would further strengthen aviation safety, improve quality and serve the interests of our customers, employees and shareholders”
.
For its part, Spirit assured that its board of directors and management team were
“committed to improving shareholder value and regularly reviewing business opportunities to fuel this objective”
.
The company has indicated that it does not intend to comment further on the discussions, unless it is legally required.
The WSJ also claimed that Spirit AeroSystems was also studying the opportunity to sell activities in Ireland, which supply Airbus, Boeing's great European rival.
Boeing is by far Spirit's largest customer, 60% of whose revenues came from the American aircraft manufacturer in 2022. Asked at the end of January on CNBC to know if he considered, with hindsight, that the split had been ill-advised, the Boeing boss Dave Calhoun acknowledged that the group had
“probably”
gone too far.
“But now it’s done and I have to deal with it
,” added the man who took control of Boeing in January 2020.
Spirit AeroSystems has been under surveillance since an incident on January 5, when a cabin door of an Alaska Airlines Boeing 737 MAX 9 came loose in mid-flight.
The manufacturer also reported, throughout 2023, production problems, some of which affected the fuselage, which reduced its production rate and deliveries.