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Subject of emergency alert message arrested - May 2, 2024 | SaltWire #dartmouth #update #suspect - Airbus has called for financial compensation to take on money-losing operations from Spirit AeroSystems, a demand that has emerged as one obstacle to a tie-up deal between the supplier and its main customer Boeing, people familiar with the matter said.
It was not clear how the talks progressed or whether any of the obstacles were resolved. The world’s dominant aircraft makers have been exploring how to untangle their respective ties with Spirit through a carefully timed"framework" deal to split operations, Reuters reported in April. The sources did not give financial details, but industry sources have said a UK Airbus plant run by Spirit needs a $1 billion-plus re-investment to dig it out of losses.
Separating Spirit's Airbus business involves both transferring plants and extracting part of the work from others, a second source said. Spirit's money-losing Belfast plant is one of the sticking points currently being worked through, two of the sources said. Spirit reports earnings on May 7. An Airbus spokesperson reiterated it was engaged in talks over its Spirit-based operations and declined further comment. Boeing also declined comment.
Spirit Aero spokeman Joe Buccino said"irrespective of negotiations, we are and will always lock in on quality, safety, and the highest engineering rigor." Airbus CEO Guillaume Faury told Reuters last month it was “not unlikely” that Airbus would assume control of Belfast and the Kinston, North Carolina, plant where Spirit makes part of the A350.
The saga has revived concerns over the future of Northern Ireland’s largest manufacturing employer and its 3,400 staff after Spirit stepped in to acquire it from struggling Bombardier in 2019.
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