Boeing reaches deal to buy key 737 Max supplier Spirit AeroSystems

deal to buy Spirit AeroSystems, a key supplier that provides fuselages for its popular 737 Max jets, including the one involved inthe $4.7 billion all-stock deal around midnight Monday. The total transaction value is about $8.3 billion, including Spirit’s last reported net debt.

“We believe this deal is in the best interest of the flying public, our airline customers, the employees of Spirit and Boeing, our shareholders and the country more broadly,” Boeing President and CEO Dave Calhoun said in The acquisition will include substantially all Boeing-related commercial operations, as well as additional commercial, defense and aftermarket operations. As part of the transaction, Boeing will work with Spirit to ensure the continuity of operations supporting Spirit’s customers and programs it acquires, including working with the U.S. Defense Department and Spirit defense customers regarding defense and security missions.for years by quality control issues.

In a briefing last week, Elizabeth Lund, senior vice president overseeing quality control and quality assurance efforts at Boeing, said that the fuselage of the 737 Max jet that would ultimately be involved in the Jan. 5 door panel blowout was damaged when it arrived at the Renton factory. Work to address that issue, led to the removal of a door panel, which was reinstalled but without four bolts used to secure it.

In the wake of the Jan. 5 blowout, both Boeing and the Federal Aviation Administration have stepped up oversight of Spirit. At a hearing before the Senate Commerce, Science and Transportation Committee, FAA Administrator Michael Whitaker said in addition to deploying additional inspectors at Boeing facilities, it has also increased its presence at key suppliers including Spirit.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Families of victims who died in Boeing 737 Max 8 crashes urge DOJ to prosecute BoeingFamilies of those who died in two deadly Boeing crashes are pushing the Department of Justice to prosecute Boeing on criminal charges.
Source: fox13seattle - 🏆 328. / 59 Read more »

Boeing bid for Spirit Aero values 737 supplier at $35/shr, Bloomberg News reportsBoeing bid for Spirit Aero values 737 supplier at $35/shr, Bloomberg News reports
Source: Investingcom - 🏆 450. / 53 Read more »

Boeing 737 MAX crash victim families ask judge to name corporate monitorBoeing 737 MAX crash victim families ask judge to name corporate monitor
Source: Investingcom - 🏆 450. / 53 Read more »

Prosecutors urge Justice Department to file criminal charges against Boeing over 737 MaxProsecutors are urging the US Justice Department to file criminal charges against Boeing for safety issues surrounding its 737 Max, although top Justice Department officials haven’t made a final decision, a source familiar with the development tells CNN.
Source: cnnbrk - 🏆 393. / 55 Read more »

Prosecutors are recommending the Justice Department charge Boeing over 737 Max crashesBoeing could face criminal charges in connection with two fatal crashes that killed 346 people after failing to meet the terms of a 2021 agreement with prosecutors.
Source: adndotcom - 🏆 293. / 63 Read more »

US prosecutors urge DoJ to charge Boeing over fatal 737 Max crashesThe DoJ alleges Boeing breached a settlement agreement related to two fatal 737 Max crashes that killed 346 people.
Source: IntEngineering - 🏆 287. / 63 Read more »