Europe’s Airbus has finalized an agreement to take some assets from Spirit AeroSystems, both companies said Monday, completing a critical part of a transatlantic carve-up of the struggling supplier with US rival Boeing.

Spirit AeroSystems said there is "substantial doubt about the company's ability to continue as a going concern" though Boeing and Airbus are planning to acquire portions of the parts maker.

Spirit AeroSystems reported a drop in revenue for Q1 2025 mainly due to reduced production on most Boeing programs, especially the Boeing 737.