Airbus called for compensation to take on money-losing Spirit operations, sources say [Globe and Mail, The (Toronto, Canada)]
Boeing Company (The) (BA)
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Source: Globe and Mail, The
to a tie-up deal between the supplier and its main customer Boeing, people familiar with the matter said. Spirit and Airbus executives are holding talks in New York, first reported by Bloomberg, to try and work through issues such as the European planemaker's demands for financial compensation to take on the supplier's loss-making operations. They also include the mechanics of separating Airbus' business from Spirit, said two of the sources who spoke on condition of anonymity. 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 U.K. Airbus plant run by Spirit needs a $1-billion-plus re-investment to dig it out of losses. Boeing is focused on acquiring its key aerostruc
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- 4/24/24 - Beat
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- 5/7/24 - Form DEFA14A
- BA's page on the SEC website