Spirit AeroSystems shareholders have overwhelmingly approved the company’s acquisition by Boeing, paving the way for the deal to finalize in mid-2025, subject to closing conditions including the receipt of regulatory approvals. The shareholder approval came during a stockholder meeting held on January 31st.
Spirit CFO Irene Esteves hailed the vote as a significant milestone in the planned merger, emphasizing the company’s continued focus on safety, compliance, and quality during the transition. Spirit will continue to operate as an independent company until the transaction closes.
Spirit, a key supplier of aerostructures, including 737 fuselages, has faced scrutiny over its own manufacturing quality in recent times. The acquisition agreement, initially reached in June 2024, comes as Boeing grapples with its own production challenges and seeks to bolster its supply chain.
The merger is viewed by Boeing as a crucial step towards addressing Spirit’s manufacturing issues and strengthening overall production quality. Boeing intends to acquire Spirit’s operations related to Boeing aircraft, while Airbus has separately announced its intention to acquire Spirit’s facilities that supply Airbus components.
This strategic move by Boeing reflects the company’s commitment to tightening control over its supply chain and ensuring the smooth and safe production of its aircraft. The acquisition comes after a period of intense pressure on Boeing to rectify quality and safety lapses within its production systems, making the successful integration of Spirit a critical element of its recovery strategy.
