Boeing is facing challenges related to aviation safety and aircraft production, critical issues that cannot be ignored. In early July, it was revealed that Boeing plans to acquire Spirit AeroSystems Holdings Inc for $4.7 billion in an effort to address the ongoing safety crisis.

The leading aircraft manufacturer is expected to pay $37.25 per Spirit share in an all-stock deal valued at $4.7 billion. The total transaction value is $8.3 billion, including the parts supplier’s net debt.

"Bringing Spirit and Boeing together will enable greater integration of both companies' manufacturing and engineering capabilities, including safety and quality systems," Spirit Aero CEO Patrick Shanahan said.

As part of the deal, Spirit will be split, with some of its assets going to French planemaker Airbus Group SE due to antitrust concerns. In addition, the deal requires Spirit to cease operations in Malaysia, Scotland, and Northern Ireland.

Originally spun off from Boeing in 2005, now is the time to bring Spirit back under its wing. Boeing is currently navigating turbulent times, grappling with a new safety scandal after the mid-air opening of a door on a 737 MAX jet revealed several safety and quality issues.

This crisis follows two tragic crashes of 737 MAX jets that killed more than 350 passengers in 2018 and 2019 and triggered extensive regulatory scrutiny of the company.

According to Reuters, the US Department of Justice is seeking to bring criminal fraud charges against Boeing over these two accidents.