Boeing, under pressure on plane safety, to buy key supplier for $4.7 billion

FILE - A Boeing 737 Max jet prepares to land at Boeing Field following a test flight in Seattle, Sept. 30, 2020. Boeing announced plans late Sunday, June 30, 2024, to acquire Spirit AeroSystems for $4.7 billion in an all-stock transaction for the manufacturing firm. ARLINGTON, Va. — Boeing announced plans to acquire key supplier Spirit AeroSystems for $4.

Boeing has until the end of the week to accept or reject the offer, which includes the giant aerospace company agreeing to an independent monitor who would overseethat Boeing violated terms of a 2021 settlement allowing the company to avoid prosecution for actions leading up to the crashes in Ethiopia and Indonesia,

Boeing spun off Spirit, which is based in Wichita, Kansas, and not related to Spirit Airlines, in 2005. In recent years, quality problems have mounted, including fuselage panels that didn’t fit together precisely enough and holes that were improperly drilled.in October and replaced him with Patrick Shanahan, a former Boeing executive who served as acting defense secretary in the Trump administration.

“Bringing Spirit and Boeing together will enable greater integration of both companies’ manufacturing and engineering capabilities, including safety and quality systems,” Shanahan said.

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