‘Not surprised’: Boeing-Spirit deal falls behind schedule
By Keith Grant
Boeing’s acquisition of Spirit AeroSystems is running behind schedule.
When the two companies announced the deal last year, they expected to close it by July. Two months later, they’re now predicting that by the end of 2025.
The delay is tied to regulatory approvals overseas. Spirit has operations in Europe, which means foreign governments must clear the sale. The U.K. has already given its approval, but the European Union still needs to sign off.
EU regulators initially planned to issue a decision by Oct. 14, but that deadline could be pushed back further. If they find serious concerns with the deal, they could launch a four-month investigation.
Boeing announced the $4.7 billion acquisition as part of a broader effort to tighten control over safety and production after problems with its 737 Max jets, including fatal crashes and the door panel that blew off mid-flight over Oregon. Spirit would also sell its European manufacturing units to rival Airbus as part of the agreement.
“I’m not surprised that it’s running a little bit longer,” Dr. Larry Straub with Newman University said. “I think they are moving about as fast as they can move right now.”
Last week, the FAA announced that it will split airworthiness certificates with Boeing for its 737 Max jet, which is expected to help boost production. Straub said that splitting the certificates should also help Boeing’s profit margins.
