Aerospace

Airbus Seeks Stability with Spirit AeroSystems Acquisition Deal

Airbus and Boeing wants to buy Spirit Aerosystem

Amsterdam, 1 July 2024– Airbus SE (stock exchange symbol: AIR) has entered into a binding term sheet agreement with Spirit AeroSystems in relation to a potential acquisition of major activities related to Airbus,

Notably the production of A350 fuselage sections in Kinston, North Carolina, U.S., and St. Nazaire, France; of the A220’s wings and mid-fuselage in Belfast, Northern Ireland, and Casablanca, Morocco; as well as of the A220 pylons in Wichita, Kansas, U.S.

With this agreement, Airbus aims to ensure stability of supply for its commercial aircraft programmes through a more sustainable way forward, both operationally and financially, for the various Airbus work packages that Spirit AeroSystems is responsible for today.

The transaction would cover the acquisition of these activities. Airbus will be compensated by payment of $559 million from Spirit AeroSystems, for a nominal consideration of $1.00, subject to adjustments including based on the final transaction perimeter.

Entering into definitive agreements remains subject to an ensuing due diligence process. Whilst there is no guarantee that a transaction will be concluded, all parties are willing and interested to work in good faith to progress and complete this process as timely as possible.

Aerospace

Boeing’s problems reach new heights with stranded astronauts

In a significant development for NASA and Boeing, astronauts Barry “Butch” Wilmore and Sunita “Suni” Williams are facing an extended stay in space due to a series of technical issues with Boeing’s Starliner spaceship.

Launched on June 5 for its first crewed flight to orbit, the mission was originally slated for an eight-day duration but has since been prolonged indefinitely. This delay follows a string of setbacks that have plagued the Starliner program.

NASA’s Steve Stich has been keen to emphasize that the astronauts are not stranded in space, but are, in fact, “enjoying their time on the space station.” He stated, “Our plan is to continue to return them on Starliner and return them home at the right time.”

Five helium leaks, five faulty maneuvering thrusters

However, the mission has faced numerous technical problems, including five helium leaks, five faulty maneuvering thrusters, and a propellant valve that partially failed to seal. These issues have forced NASA to reschedule the return trip three times, with no firm return date currently set. Internally, NASA has identified July 6 as a potential return date, but this has not been confirmed.

Starliner designed for missions up to 210 days

The Starliner spacecraft, designed for missions lasting up to 210 days, offers a contingency plan for the astronauts in the event of a space station emergency. They could return to Earth using the Starliner. Stich’s reassurances underscore the robustness of the spacecraft’s design, even amid these challenges.

This mission marks Boeing’s first astronaut launch following a series of delays and setbacks. The company, along with SpaceX, is part of NASA’s strategy to rely on private companies for astronaut transportation following the retirement of the space shuttle fleet.

NASA plans to alternate between SpaceX and Boeing in the future, aiming to maintain a steady and reliable means of transporting astronauts to and from the International Space Station. Despite the current hurdles, Wilmore and Williams are reportedly in good spirits and continuing their work on the space station.

Their extended mission underscores the resilience and adaptability of astronauts and the importance of rigorous testing and problem-solving in space exploration. As Boeing and NASA work to resolve the Starliner’s technical issues, the world watches closely, hopeful for a successful and safe return of the astronauts.