(VitalNews.org) – Boeing announced that they would be buying back the fuselage maker Spirit AeroSystems in a new deal that is focused only on stock. The plane manufacturer said that this deal would help to improve safety and quality control.
Boeing agreed to pay $37.25 per share in Boeing stock for Spirit, which would give the AeroSystems company a value of almost five billion dollars. Spirit makes fuselages for the Boeing 737 Max 9 and other sections of Boeing 787 Dreamliners.
Almost twenty years ago, Boeing had spin-off operations in Kansas and Oklahoma which eventually became present-day Spirit AeroSystems. Last year, Boeing accounted for over seventy percent of Spirit’s entire revenue.
Boeing CEO Dave Calhoun has said that bringing Spirit in-house would “fully align” the company’s workforce and production systems.
“Among the many actions we’re taking as a company, this is one of the most significant in demonstrating our unwavering commitment to strengthen the quality and make certain that Boeing is the company the world needs it to be,” Calhoun said.
Calhoun has said that he will be stepping down from the position of CEO for Boeing by the end of the year. This comes after multiple issues, such as the door plug that flew out of an Alaska Airlines plane and landed on the ground, have surfaced for the company.
Spirit’s CEO, Pat Shanahan, could possibly be the one to take over as CEO of Boeing.
Spirit is responsible for making the fuselages and stated that they misdrilled holes and misconnected fuselage panels, which resulted in the issue of the door plug flying out of the plane.
Boeing has combated this by not accepting fuselages that would need repairs or any additional manufacturing, and they won’t be made out of sequence. The Federal Aviation Administration has said that they will not be letting Boeing expand their production until they are happy with their production lines.
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