Boeing, a plane manufacturing company, is planning to take over Spirit Aerosystems. Spirit Aerosystems makes parts for planes and is a big supplier for Boeing. They were once a part of Boeing, but became separate in 2005. However, they still heavily rely on Boeing for their business.
Boeing is facing issues with its manufacturing process. Earlier this year, a part of a Boeing plane fell off during a flight. An investigation found that the panel of the plane was not properly attached. This part was made by Spirit and sent to Boeing for final assembly.
The Federal Aviation Administration (FAA), a government organization that looks at plane safety, has told Boeing to improve their safety. They have given Boeing 90 days to come up with a plan to improve. Boeing has been working with Spirit to deal with these issues.
On Friday, Boeing told the news that they believe rejoining with Spirit Aerosystems will help to increase safety and quality. This news led to Spirit’s shares increasing by more than 10%.
Though, Boeing’s shares fell by more than 1% after this news came out. Spirit, who is also considering selling part of its business to Airbus, has not yet commented on the situation. Spirit has more than 20,600 employees worldwide, including about 3,400 in Belfast and 1,120 in Prestwick.
Vocabulary List:
- take over (phrasal verb): To assume control or ownership of something.
- supplier (noun): A person or company that provides goods or services to another.
- rely on (phrasal verb): To depend on or trust in someone or something.
- investigation (noun): The action or process of investigating something.
- assembly (noun): The process of putting together parts or components to create a whole.
- quality (noun): The standard of something as measured against other things of a similar kind; the degree of excellence.
