Boeing confirms it’s in talks to buy Spirit AeroSystems, its key supplier on the troubled 737 Max
9 months, 3 weeks ago

Boeing confirms it’s in talks to buy Spirit AeroSystems, its key supplier on the troubled 737 Max

Associated Press  

DALLAS — Boeing said Friday that it is in preliminary talks to buy Spirit AeroSystems, which builds fuselages for Boeing 737 Max jetliners, including the one that suffered a door-panel blowout on an Alaska Airlines flight in January. Boeing used to own Spirit, and it said that bringing the supplier back into the Boeing fold would improve plane quality and safety, which has come under increasing scrutiny by regulators, Congress and airlines. In a statement Friday, the company said, “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.” A deal would give Boeing more control over its production chain, but fixing Spirit would present Boeing with new challenges while regulators are pressuring the company to improve its own work. About 70% of Spirit AeroSystems’ revenue last year came from work done for Boeing, according to Spirit’s latest annual report.

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History of this topic

US budget carrier Spirit Airlines files for bankruptcy amid severe financial losses
1 month ago

US budget carrier Spirit Airlines files for bankruptcy amid severe financial losses

Hindustan Times  

US low-cost carrier Spirit Airlines grappling with financial woes on Monday announced it had filed for bankruptcy as part of a restructuring agreement with its creditors. US low-cost carrier Spirit Airlines grappling with financial woes announced on November 18, 2024, it had filed for bankruptcy as part of a restructuring agreement with its creditors. "Spirit has received backstopped commitments for …

Biggest US budget carrier Spirit Airlines files for bankruptcy as debt payments loom
1 month ago

Biggest US budget carrier Spirit Airlines files for bankruptcy as debt payments loom

Live Mint  

Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue. Spirit, the biggest U.S. budget airline, has lost more than $2.5 billion since the start of 2020 and faces looming debt payments totaling …

Spirit Airlines Files For Bankruptcy As Financial Losses Pile Up And Debt Payments Loom
1 month ago

Spirit Airlines Files For Bankruptcy As Financial Losses Pile Up And Debt Payments Loom

Huff Post  

LOADING ERROR LOADING Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue. Spirit, the biggest U.S. budget airline, has lost more than $2.5 billion since the start of 2020 and faces looming …

Spirit Airlines files for bankruptcy as financial losses pile up and debt payments loom
1 month ago

Spirit Airlines files for bankruptcy as financial losses pile up and debt payments loom

Associated Press  

Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel, stiffer competition from bigger carriers, and a failed attempt to sell the airline to JetBlue. Spirit told customers Monday they can book flights and use frequent-flyer points as they ordinarily would, and said …

Spirit Airlines files for bankruptcy protection as financial losses pile up
1 month ago

Spirit Airlines files for bankruptcy protection as financial losses pile up

LA Times  

Spirit Airlines has filed for bankruptcy protection after a failed attempt to be acquired by competitor JetBlue. Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused drop in travel and a failed attempt to sell the airline to JetBlue. Spirit, the biggest U.S. budget airline, …

Spirit Airlines delays release of Q3 financial results as debt restructuring talks heat up
1 month, 1 week ago

Spirit Airlines delays release of Q3 financial results as debt restructuring talks heat up

Associated Press  

NEW YORK — Shares of Spirit Airlines plunged Wednesday after the budget airline said that it won’t announce quarterly financial results on time while it continues talks with bond holders to restructure its debt. If it can reach a deal, Spirit said, it would go through “a statutory restructuring” that would protect creditors, employees, customers and companies that do business …

Spirit Aero losses more than double as 737 output drops, A220 woes linger
4 months, 2 weeks ago

Spirit Aero losses more than double as 737 output drops, A220 woes linger

Live Mint  

Aug 5 - Spirit AeroSystems said on Monday its quarterly losses more than doubled as 737 fuselage shipments to its biggest customer Boeing fell and losses mounted on its Airbus A220 program. Net loss for the second quarter widened to $415 million from a loss of $206 million, an indication of Spirit's fragile finances and the importance of Boeing's deal …

Spirit Airlines is going upscale. In a break from its history, it will offer fares with extra perks
4 months, 3 weeks ago

Spirit Airlines is going upscale. In a break from its history, it will offer fares with extra perks

Associated Press  

Spirit Airlines is moving farther away from its history as a fee-happy budget airline and will start selling tickets that include some of its most popular extras in bundles. CEO Ted Christie said the changes are “taking low-fare travel to new heights.” They also indicate the deep trouble with Spirit’s longtime business model. The airline with bright yellow planes hasn’t …

Boeing bears the brunt of crisis with criminal fraud charge and now Spirit deal
5 months, 3 weeks ago

Boeing bears the brunt of crisis with criminal fraud charge and now Spirit deal

Hindustan Times  

Six months after a fuselage blowout threw Boeing Co. into crisis, the full weight of the legal and financial fallout from the near-catastrophic accident is bearing down on the embattled US plane maker. US aircraft manufacturer Boeing says to buy subcontractor Spirit for $4.7 billion The US Justice Department plans to charge Boeing with criminal fraud after finding the company …

Under pressure on plane safety, Boeing is buying stressed supplier Spirit for $4.7 billion
5 months, 3 weeks ago

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

Associated Press  

ARLINGTON, Va. — 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. No one was seriously injured in the Alaska Airlines door incident, which terrified passengers, but Boeing is under pressure from the U.S. Justice …

Amid pressure on safety, Boeing is buying stressed supplier Spirit Aerosystems for $4.7 billion
5 months, 3 weeks ago

Amid pressure on safety, Boeing is buying stressed supplier Spirit Aerosystems for $4.7 billion

LA Times  

Boeing announced plans late Sunday to acquire Spirit AeroSystems for $4.7 billion in an all-stock transaction for the manufacturing firm. 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. “Bringing Spirit and Boeing together will …

Key Boeing supplier Spirit AeroSystems is laying off 450 after production of troubled 737s slows
7 months, 1 week ago

Key Boeing supplier Spirit AeroSystems is laying off 450 after production of troubled 737s slows

Associated Press  

A key Boeing supplier that makes the fuselages for its popular 737 Max airplanes is laying off about 450 workers because production has slowed down ever since a panel flew off one of those airplanes operated by Alaska Airlines in midair in January. Spirit is Boeing’s most important supplier on the 737s because it makes fuselages and installs door plugs …

Spirit to defer Airbus plane deliveries, furlough 260 pilots this year
8 months, 2 weeks ago

Spirit to defer Airbus plane deliveries, furlough 260 pilots this year

Associated Press  

Spirit Airlines is deferring all aircraft on order from Airbus that were scheduled to be delivered in the second quarter of 2025 through the end of 2026, the discount carrier said Monday. “Deferring these aircraft gives us the opportunity to reset the business and focus on the core airline while we adjust to changes in the competitive environment,” said Spirit …

The Texas attorney general is investigating a key Boeing supplier and asking about diversity
8 months, 3 weeks ago

The Texas attorney general is investigating a key Boeing supplier and asking about diversity

Associated Press  

DALLAS — The Texas attorney general has opened an investigation into a key Boeing supplier that is already facing scrutiny from federal regulators over quality of parts that it provides to the aircraft maker. The office of Texas Attorney General Ken Paxton said it began looking into Spirit AeroSystems because of “apparent manufacturing defects” in parts that “have led to …

JetBlue-Spirit Airlines $3.8b merger cancelled after judge blocked deal
9 months, 2 weeks ago

JetBlue-Spirit Airlines $3.8b merger cancelled after judge blocked deal

Hindustan Times  

JetBlue Airways Corp. formally abandoned its pursuit of Spirit Airlines Inc. more than a month after a federal judge blocked the $3.8 billion acquisition on antitrust grounds. “The lingering uncertainty is distracting and taking our resources away from more pressing priorities.” The decision ends JetBlue’s lengthy quest for Spirit and marks a sharp reversal after the companies pledged to fight …

Spirit Aerosystems shares surge on possible Boeing buy
9 months, 3 weeks ago

Spirit Aerosystems shares surge on possible Boeing buy

Hindustan Times  

Shares of Spirit AeroSystems surged Friday on news Boeing is in talks to potentially acquire the supplier as the aviation giant seeks to right itself amid its latest safety crisis. HT Image Spirit finished Friday's session up more than 15 percent following a Wall Street Journal report that it hired bankers and was holding preliminary talks to be bought by …

JetBlue tells Spirit Airlines that it may terminate its $3.8 billion buyout offer challenged by US
10 months, 4 weeks ago

JetBlue tells Spirit Airlines that it may terminate its $3.8 billion buyout offer challenged by US

Associated Press  

NEW YORK — JetBlue Airways warned that it may end its bid to acquire low-cost carrier Spirit Airlines as soon as this weekend after a federal judge blocked the deal, sending Spirit shares sharply lower Friday. Spirit shot back that it finds no reason to terminate the deal and will continue to meet its obligations, “and it expects JetBlue to …

JetBlue’s incoming CEO clings to Spirit deal with few other options
11 months ago

JetBlue’s incoming CEO clings to Spirit deal with few other options

LA Times  

Joanna Geraghty officially takes over as JetBlue’s chief executive in February. In addition to a federal judge last week blocking the carrier’s plan to acquire Spirit in a $3.8-billion deal, JetBlue’s route-sharing partnership with American Airlines Group was shot down in the courts last year. “But that seems to have worked off in the recent years and they seem like …

Spirit Air stock bounces back a bit, airline says holiday travel boosted revenue
11 months ago

Spirit Air stock bounces back a bit, airline says holiday travel boosted revenue

Associated Press  

Spirit Airlines jumped in morning trading Friday after the struggling discount carrier said a strong holiday travel season boosted its fourth-quarter revenue. Spirit said it expects to post revenue of $1.3 billion when it releases its results for the final quarter of 2023 early next month. The airline’s shares lost more than half their value earlier in the week after …

With merger scuttled, Spirit Airlines faces an uncertain future. Is bankruptcy a possibility?
11 months, 1 week ago

With merger scuttled, Spirit Airlines faces an uncertain future. Is bankruptcy a possibility?

Associated Press  

Spirit Airlines hasn’t made money since before the pandemic, ticket sales haven’t bounced back as quickly as the carrier expected, and dozens of its planes will be grounded at times this year because of a problem with the engines. But a federal judge in Boston scuttled that plan by ruling Tuesday that JetBlue’s $3.8 billion proposal to buy Spirit violates …

Biden administration and JetBlue square off in court over Spirit deal
1 year, 1 month ago

Biden administration and JetBlue square off in court over Spirit deal

LA Times  

The Biden administration’s fight against consolidation in the airline industry is being tested in court in an antitrust lawsuit brought by the Justice Department over a deal between JetBlue and Spirit. But JetBlue lawyer Ryan Shores called the government’s objections “misguided” and told the judge that combining with Spirit was necessary for the two small carriers to better compete with …

Boeing and a key supplier find a new manufacturing issue that affects the 737 Max airliner
1 year, 4 months ago

Boeing and a key supplier find a new manufacturing issue that affects the 737 Max airliner

Associated Press  

Boeing and a key supplier say that a new manufacturing flaw could delay deliveries of the 737 Max, Boeing’s best-selling plane. Boeing and Spirit AeroSystems said they discovered improperly drilled fastener holes in the aft pressure bulkhead — which maintains pressure when planes are at cruising altitude – on the fuselages of some models of the 737 Max. Spirit AeroSystems …

Spirit Aerosystems, major airlines supplier, suspends plant operations after labor contract rejected
1 year, 6 months ago

Spirit Aerosystems, major airlines supplier, suspends plant operations after labor contract rejected

Associated Press  

Spirit Aerosystems, a major supplier to the world’s largest aircraft manufacturers, is suspending operations at a critical Kansas plant after union workers there rejected a proposed four-year contract and authorized a strike. Approximately 6,000 members of the IAM District 70, Local 839 voted to reject Spirit Aerosystems’ best and last offer after 13 years without a fully negotiated agreement, the …

JetBlue strikes a deal to sell Spirit’s LaGuardia operation if it succeeds in buying Spirit
1 year, 6 months ago

JetBlue strikes a deal to sell Spirit’s LaGuardia operation if it succeeds in buying Spirit

Associated Press  

JetBlue Airways said Thursday it has agreed to sell Spirit Airlines’ holdings at New York’s LaGuardia Airport to Frontier Airlines if it succeeds in buying Spirit. “We are committed to ensuring our combination with Spirit preserves ultra low-cost carrier access in New York,” JetBlue CEO Robin Hayes said. “We are pleased that this agreement with Frontier will maintain the same …

Boeing Max production could be slowed by issue with parts
1 year, 8 months ago

Boeing Max production could be slowed by issue with parts

Associated Press  

Boeing said Thursday that production and delivery of a “significant number” of its 737 Max planes could be delayed because of questions about a supplier’s work on the fuselages. The company said the situation is not an immediate safety issue and planes already flying “can continue operating safely.” But, Boeing said, it notified the Federal Aviation Administration about the matter …

Spirit Airlines shareholders approve $3.8B sale to JetBlue
2 years, 2 months ago

Spirit Airlines shareholders approve $3.8B sale to JetBlue

Associated Press  

Spirit Airlines shareholders voted Wednesday to accept a $3.8 billion buyout from JetBlue Airways, but the deal could still face a challenge from federal antitrust regulators. JetBlue emerged as the winner in a bidding war with Frontier to acquire Spirit, the nation’s biggest budget airline. Wall Street widely expected shareholders to approve the sale after they forced Spirit to drop …

Merger vote at Spirit could reshape discount airline market
2 years, 5 months ago

Merger vote at Spirit could reshape discount airline market

Associated Press  

DALLAS — The prospect of a takeover of Spirit Airlines threatens to upend the cheap-fare end of the industry much like a series of mergers among big airlines reduced choices for travelers. Consumers, he said, “should be looking for continuation of a true low-fare, austere environment with the Spirit-Frontier combination.” Scott Keyes, the founder of Scott’s Cheap Flights travel site, …

Merger vote at Spirit could reshape discount airline market
2 years, 5 months ago

Merger vote at Spirit could reshape discount airline market

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Scott Keyes, the founder of Scott’s Cheap Flights travel …

Spirit Airlines delays shareholder meeting as it weighs Frontier, JetBlue bids
2 years, 6 months ago

Spirit Airlines delays shareholder meeting as it weighs Frontier, JetBlue bids

Live Mint  

Spirit Airlines Inc. has postponed a planned stockholder meeting on its proposed merger with Frontier Group Holdings Inc. as it weighs a competing bid from JetBlue Airways Corp. In May, JetBlue launched a hostile takeover after Spirit rejected JetBlue’s $3.6 billion bid, appealing to shareholders in hopes of pressuring Spirit management to reopen talks. William Franke, Frontier’s chairman, said that …

Spirit Airlines board urges shareholders to reject JetBlue offer
2 years, 7 months ago

Spirit Airlines board urges shareholders to reject JetBlue offer

Live Mint  

Spirit Airlines Inc.’s board is urging shareholders to reject a hostile takeover bid from JetBlue Airways Corp. and vote in favor of a tie-up with Frontier Group Holdings Inc. The board said in a statement that the unsolicited $30-per-share offer from JetBlue isn’t in Spirit’s best interest given the substantial regulatory hurdles the deal would face. Spirit Chairman Mac Gardner …

Spirit still prefers bid from Frontier Airlines over JetBlue
2 years, 7 months ago

Spirit still prefers bid from Frontier Airlines over JetBlue

Associated Press  

Spirit Airlines said Monday that it still supports Frontier Airlines’ $2.9 billion takeover bid for the airline, saying it was more likely to win regulatory approval than JetBlue’s competing $3.6 billion offer. Spirit said antitrust regulators are unlikely to approve JetBlue’s offer because of JetBlue’s alliance with American Airlines in the Northeast, a deal that the Justice Department is suing …

Spirit Airlines will talk to JetBlue about takeover bid
2 years, 8 months ago

Spirit Airlines will talk to JetBlue about takeover bid

Associated Press  

DALLAS — Spirit Airlines said late Thursday that it will talk to JetBlue Airways about its $3.6 billion bid to combine the two airlines, which appeared to leapfrog an earlier offer by Frontier Airlines. Spirit said that after speaking with financial and legal advisers, its directors believe JetBlue’s offer could “reasonably” turn out to be the better of the two …

Spirit Airlines will talk to JetBlue about takeover bid
2 years, 8 months ago

Spirit Airlines will talk to JetBlue about takeover bid

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

JetBlue makes offer for Spirit Airlines, could spark bid war
2 years, 8 months ago

JetBlue makes offer for Spirit Airlines, could spark bid war

Associated Press  

JetBlue Airways has offered to buy Spirit Airlines for about $3.6 billion and break up a plan for Spirit to merge with rival budget carrier Frontier Airlines. In a statement, New York-based JetBlue said combining with Spirit would lead to lower fares by creating “the most compelling national low-fare challenger” to the nation’s four biggest airlines: American, Delta, United and …

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