Spirit AeroSystems shareholders have agreed to a Boeing buy out that would see the Wichita-based manufacturer rejoin the planemaker 20 years after going their separate ways.
Boeing’s acquisition of Spirit AeroSystems 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 2025, with Boeing expected to pay around $4.7 billion under the terms of the agreement.
Boeing made the takeover of Spirit AeroSystems a top priority in its attempts to regain industry confidence of its production infrastructure following an incident on January 5, 2024, when a door plug separated from an Alaska Airlines 737-8 shortly after takeoff.
A Federal Aviaton Administration (FAA) audit following the accident in January 2024, identified “non-compliance issues” across Boeing’s manufacturing process control, parts handling and storage, and product control.
In July 2024, Spirit AeroSystems CEO Pat Shanahan said that the merger would lead to Boeing company becoming a “faster and more nimble” organization.
Boeing subcontracted certain manufacturing operations in 2005, aiming to lower expenses and enhance production effectiveness. The sale of Boeing’s Wichita division led to the establishment of Spirit AeroSystems, which constructed the fuselages of the 737 and 787.
Commenting after the shareholder vote, Irene Esteves, Spirit AeroSystems Chief Financial Officer, said: “Our shareholder’s resounding approval today represents an important milestone in our carefully planned merger with Boeing. As we continue executing our transition plan, we remain focused on Spirit’s foundational principles of safety, compliance and quality.”
In 2024, Airbus and Spirit AeroSystems signed a binding term sheet under which the European planemaker will assume ownership of certain Spirit assets that serve its programs.
The activities include the production of A350 fuselage sections and A220 wings, mid-fuselage, and pylons.
Both deals are expected to be finalized mid-2025.
