Under pressure on plane safety, Boeing is buying stressed supplier Spirit for $4.7 billion

girlfreddy@sh.itjust.works to News@lemmy.world – 182 points – Under pressure on plane safety, Boeing is buying stressed supplier Spirit for $4.7 billion
apnews.com

Boeing announced plans to acquire key supplier Spirit AeroSystems for $4.7 billion, a move that it says will improve plane quality and safety amid increasing scrutiny by Congress, airlines and the Department of Justice.

Boeing previously owned Spirit, and the purchase would reverse a longtime Boeing strategy of outsourcing key work on its passenger planes. That approach has been criticized as problems at Spirit disrupted production and delivery of popular Boeing jetliners including 737s and 787s.

“We believe this deal is in the best interest of the flying public, our airline customers, the employees of Spirit and Boeing, our shareholders and the country more broadly,” Boeing President and CEO Dave Calhoun said in a statement late Sunday.

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“We believe this deal is in the best interest of the flying public, our airline customers, the employees of Spirit and Boeing, our shareholders and the country more broadly,” Boeing President and CEO Dave Calhoun said in a statement late Sunday.

Quick, someone post the press release when Boeing outsourced Spirit. I bet they said the outsourcing was also in the best interest of the flying public.

https://boeing.mediaroom.com/2005-02-22-Boeing-to-Sell-Commercial-Airplanes-Operations-in-Kansas-and-Oklahoma-to-Onex

Boeing announced in April 2004 that it was studying the possible sale of its plants in Wichita , Tulsa and McAlester . Boeing included balancing the interests of employees, customers, shareholders and its plant communities in its criteria for the decision.

"We firmly believe that this decision provides the best available outcome for the Wichita/Tulsa Division and its plant communities by creating new opportunities for sustained growth as a separate operation. Onex shares this perspective, and we look forward to a long and productive relationship together," Mulally said.

What a cluster fuck. God damn boomer MBAs.

It’s textbook Jack Welch moves that have dominated corporate America for the last 30-40 years

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