Boeing is in talks to buy back Spirit AeroSystems, which makes fuselages for Boeing’s 737 Max jets, the companies said Friday, as the manufacturers scramble to stamp out production flaws on the top-selling plane.
Shares of Spirit rose 15% on Friday, while Boeing’s stock fell close to 2%. Spirit AeroSystems had a market capitalization of $3.8 billion as of Friday’s close.
Boeing in 2005 spun off operations in Kansas and Oklahoma that became the present-day Spirit AeroSystems. About 70% of Spirit’s revenue last year came from Boeing, and roughly a quarter came from making parts for Boeing’s main rival, Airbus, according to a securities filing. Airbus declined to comment on the deal talks.
“We believe that the reintegration of Boeing and Spirit AeroSystems’ manufacturing operations would further strengthen aviation safety, improve quality and serve the interests of our customers, employees, and shareholders,” Boeing said in a statement on Friday. “Although there can be no assurance that we will …