The troubled plane maker has struggled to rebuild trust with regulators, airlines, and the flying public after a door-plug panel blew off an Alaska Airlines flight in midair earlier this year.
"We believe this deal is in the best interest of the flying public, our airline customers, the employees of Spirit and Boeing, our shareholders and the country more broadly," said Boeing CEO Dave Calhoun.
Bringing Spirit and Boeing together will enable greater integration of both companies' manufacturing and engineering capabilities, including safety and quality systems, said Spirit CEO Patrick Shanahan.
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