image source, Getty Images
Boeing is in talks to buy Spirit AeroSystems, a supplier involved in many of the company's recent manufacturing problems.
The company is a major global supplier of aviation parts and was spun off from Boeing in 2005 as part of a cost-cutting effort.
The company continues to rely on Boeing for more than two-thirds of its business.
Boeing is under pressure on its manufacturing pipeline after debris from a plane flew through the air in January.
A U.S. government investigation into the explosion found that the bolts holding the panels together at the Boeing factory in Washington had been removed, apparently to repair damaged rivets, and not replaced. .
The part was manufactured by Spirit before being sent to Boeing for final assembly.
The Federal Aviation Administration (FAA), which has been investigating Boeing since the incident, this week gave Boeing 90 days to develop a “comprehensive plan of action” to improve its safety management system.
Boeing is already working closely with Spirit to address a series of quality issues that caused aircraft delivery delays and led to the appointment of a new CEO for Spirit last year.
“The reunification of Boeing and Spirit AeroSystems' manufacturing operations will further strengthen aviation safety, improve quality and improve the safety of our customers, employees and shareholders,” Boeing said in a statement to Reuters on Friday. I believe it is in our interests.”
Shares of Spirit soared more than 10% on Friday after reports of takeover talks, giving the company a market capitalization of more than $3.7 billion.
But after the discussion was first reported in the Wall Street Journal, Boeing's stock price fell more than 1%.
The newspaper reported that Spirit was also considering selling its Northern Ireland unit to Airbus, but did not respond to a request for comment from the BBC.
Spirit employs more than 20,600 people worldwide, including approximately 3,400 in Belfast and 1,120 in Prestwick.
