+
Unions Raise Job Fears as Airbus Finalises Spirit Aero Factory Deal
AVIATION & AIRPORTS

Unions Raise Job Fears as Airbus Finalises Spirit Aero Factory Deal

Airbus has finalised an agreement to acquire several Spirit AeroSystems plants, prompting concerns from unions over thousands of jobs in Northern Ireland and Scotland. The deal follows Boeing’s move to repurchase parts of Spirit AeroSystems, twenty years after spinning it off for USD 4.7 billion, amid financial pressures worsened by the Boeing 737 MAX crisis.

Airbus will take control of sites in Kinston, North Carolina, Belfast, Northern Ireland, and Prestwick, Scotland, as well as activities in Morocco, France, and Wichita, Kansas. Airbus will receive a $439 million payment from Spirit AeroSystems for assuming loss-making operations, a reduction from the initially planned $559 million.

In Belfast, where about 3,000 people work at the historic Short Brothers site, unions urged the United Kingdom government to intervene to secure 2,000 non-Airbus jobs.
 
Similar concerns were raised over 1,000 jobs in Prestwick. Airbus may need to invest heavily in Belfast’s facilities to stem losses related to A220 wing production.

The expected deal closure has shifted to the third quarter of 2025. Airbus shares rose by around 3 per cent following the announcement. Spirit AeroSystems shares also increased by more than 2 per cent. The future of additional facilities, including in Malaysia, remains uncertain.

Source: Reuters

Airbus has finalised an agreement to acquire several Spirit AeroSystems plants, prompting concerns from unions over thousands of jobs in Northern Ireland and Scotland. The deal follows Boeing’s move to repurchase parts of Spirit AeroSystems, twenty years after spinning it off for USD 4.7 billion, amid financial pressures worsened by the Boeing 737 MAX crisis.Airbus will take control of sites in Kinston, North Carolina, Belfast, Northern Ireland, and Prestwick, Scotland, as well as activities in Morocco, France, and Wichita, Kansas. Airbus will receive a $439 million payment from Spirit AeroSystems for assuming loss-making operations, a reduction from the initially planned $559 million.In Belfast, where about 3,000 people work at the historic Short Brothers site, unions urged the United Kingdom government to intervene to secure 2,000 non-Airbus jobs. Similar concerns were raised over 1,000 jobs in Prestwick. Airbus may need to invest heavily in Belfast’s facilities to stem losses related to A220 wing production.The expected deal closure has shifted to the third quarter of 2025. Airbus shares rose by around 3 per cent following the announcement. Spirit AeroSystems shares also increased by more than 2 per cent. The future of additional facilities, including in Malaysia, remains uncertain.Source: Reuters

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code