The U.S. Federal Trade Commission finalized a consent order on February 17, 2026, confirming its review of Boeing’s acquisition of Spirit AeroSystems and setting the conditions under which the merger can be fully integrated.
The order requires Boeing to divest Spirit’s Airbus‑related operations and its Subang, Malaysia facility to approved buyers, and to continue supplying aerostructures to competing defense contractors. These divestitures are intended to preserve competition in both the commercial and defense aerospace markets.
The acquisition was completed on December 8, 2025, for approximately $8.3 billion, including Spirit’s net debt, with an equity value of about $4.7 billion. The FTC’s final order clarifies the terms under which the merger can be fully integrated after the earlier approval on December 3, 2025.
Spirit AeroSystems had been in a dire financial position, reporting a net loss of $724 million in Q3 2025 and a net loss of $631 million in Q2 2025. Persistent losses and cash consumption led to “substantial doubt” about its going‑concern status, making the acquisition a strategic necessity for Boeing to regain control of a key supplier and improve manufacturing quality.
After the December 4, 2025 decision, Boeing shares slipped about 3 % while Spirit’s stock gained roughly 3.5 %. Investors focused on the required divestitures, which altered the scope of the combined entity and influenced expectations about the merger’s competitive impact.
The consent order’s conditions underscore the regulatory emphasis on maintaining competition in both commercial and defense aerospace markets. Boeing must continue to supply aerostructures to competing defense contractors, ensuring that the merger does not reduce competition for military aircraft programs.
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