By Kimberley KaoAirbus will acquire several production assets of Spirit AeroSystems with the help of a $559 million compensatory payment, part of a broader plan related to rival Boeing's acquisition of Spirit. The deal, which is subject to due diligence, came as Boeing unveiled its acquisition of Spirit that values the Kansas-based jet-parts maker at $4.7 billion. As part of Boeing's acquisition, Spirit is expected to shed factories, including in Europe, that make parts for Airbus, and divest of certain operations that support Airbus programs. Airbus said its deal would help ensure the stability of aircraft supply in "a more sustainable way...both operationally and financially" for the various Airbus work packages undertaken by Spirit up until now. Write to Kimberley Kao at kimberley.kao@wsj.com(END) Dow Jones NewswiresJuly 01, 2024 03:19 ET (07:19 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal July 01, 2024 07:46 UTC