Boeing said Monday it has completed a $4.7 billion purchase of key supplier Spirit AeroSystems, which builds fuselages for the giant aerospace company's 737 Max jetliners, including an Alaska Airlines aircraft that suffered a door-panel blowout last year.

The deal, in the works for over a year, also brings Boeing's largest provider of spare parts in-house. CEO Kelly Ortberg called it a “pivotal moment” for Boeing's future.

“As we welcome our new teammates and bring our two companies together, our focus is on maintaining stability so we can continue delivering high-quality airplanes, differentiated services, and advanced defence capabilities for our customers and the industry," Ortberg said in a statement.

Boeing previously owned Wichita, Kansas-based Spirit but spun it off in 2005. Reab

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