Fears for 2,000 UK jobs as Airbus and Boeing carve up Belfast factory
More than 2,000 jobs are under threat at one of the UK's biggest aerospace plants after some workers were left out of a deal between Boeing and Airbus to carve up the site.
The Spirit AeroSystems factory in Belfast, one of Northern Ireland's largest manufacturing locations, is being broken up by the two jet manufacturers as part of a complex takeover deal of Spirit AeroSystems.
While Airbus has agreed to rehire about 1,600 workers from the site, there are fears for the non-Airbus staff after Boeing indicated it did not wish to take on the remaining 2,000 workers.Unions chiefs and local MPs, who had campaigned for the plant to be kept together, warned that the settlement leaves a question mark over the majority of jobs there.George Brash, the regional officer for Unite, called on Sir Keir Starmer to intervene, saying the Prime Minister should leverage the importance of the factory in supplying wings to Airbus and receiving Government grants to put pressure on the company to reconsider.He said: 'This announcement leaves an uncertain future for thousands of workers, with no mention anywhere of safeguarding jobs.'It is completely unacceptable and the Government should not just be lying down over this.'
Sharon Graham, Unite's general secretary, said 10,000 jobs in Ireland were dependent on Spirit and that a break-up of the plant would destroy vital economies of scale.Unite plans to send a delegation to Westminster on Wednesday to put its concerns to Sarah Jones, the industry minister.
The Belfast factory was built by Short Brothers in 1936 and produced Second World War aircraft including the Stirling bomber and Sunderland flying boat.
Spirit, Northern Ireland's largest private employer, is best known for supplying wings for the Airbus A220, a small airliner popular on short routes such as those from London City airport.
However the rest of the complex, which spans six manufacturing sites in and around Belfast, predominantly supplies parts for Bombardier, Honda and Rolls-Royce engine casings – making it unattractive to both Airbus and Boeing.
Spirit had been seeking a buyer for the unwanted assets after Boeing said last year that it would take over the Kansas-based company, which was blamed for making a faulty door plug that blew out of a Boeing 737 Max jet at 16,000 feet.
Beyond wing production, which employs 1,100 people, even the commitment of Airbus to parts of the business it is taking over appears uncertain.
The company said it will take on an operation that makes the A220's centre fuselage and supports about 500 posts only if a 'suitable buyer' cannot be found before the transaction closes.
Outside of Northern Ireland, Airbus will take ownership of a Spirit plant at Prestwick, near Glasgow, which makes parts for its best-selling A320 and the A350.
However, it said the acquisition of the site, which had been the subject of disposal talks with at least one third party, is being made only 'to ensure continuity of production' and that it will be operated as an affiliate while its long-term future is considered.Airbus said it will 'continue close engagement' with the UK and Scottish governments and with the Northern Ireland Executive 'to support a sustainable future' for the sites.Boeing's UK representatives did not immediately respond to requests for comment on its plans for the other half of the Belfast operation.Airbus also agreed to take ownership of Spirit operations that make parts for its planes in the US, France and Morocco and will receive $439m (£328m) from Boeing in compensation for doing so.
Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
32 minutes ago
- CNBC
Uncertainty looms as 2025 nears the halfway mark. How to make sure your portfolio is prepared
Stocks have made a recovered from this year's lows, but uncertainty remains a key theme as the second half of the year approaches – and investors can prepare for it. President Donald Trump's rollout of sharply higher tariffs in April sent stocks on a wild ride, with the S & P 500 at one point dipping more than 20% from its all-time high. Traders' hopes for progress in trade negotiations, along with solid first-quarter earnings, helped the market recover since then, however. The S & P 500 is now less than 2% below its its all-time high. Don't just kick back and wait for a continued recovery, though. "Our little tagline here is 'diversifying for resilience,'" said Michael Arone, SPDR chief investment strategist at State Street Global Advisors. "The thought behind the theme for the second half, is that markets are in suspense," he said. Some of the issues for investors to cinsider now include trade policy, soft economic data and the chance that the Federal Reserve holds off on rate cuts for too long, Arone added. Here's how to get your portfolio ready for the remainder of the year Review and rebalance Ignoring your portfolio's asset allocation, particularly at a time when markets are strong, can result in lopsided positions. For starters, think about how large-cap tech stocks in the U.S. were responsible for the market's surge last year. Failure to prune some of those big positions now, and add to underweight sectors, could result in a portfolio that doesn't reflect your goals and risk appetite. This year, investors who shied away from international markets may have found themselves missing out on sizable appreciation. Consider that the Vanguard FTSE All-World ex-US ETF (VEU) has returned 16% in 2025, while the S & P 500's return over the same period is a little more than 2%. VEU .SPX YTD mountain The Vanguard FTSE All-World ex-US ETF (VEU) versus the S & P 500 in 2025 "If we look through a stock lens, U.S. allocation peaked at 67%, and today it's at 64%," said Arone. "I can tell you there are very few investors I meet with who have 36% of their portfolio invested outside of the U.S. from a stock standpoint." Diversifying into international funds also helps investors gain exposure to sectors outside of Big Tech, said Christine Benz, director of personal finance and retirement planning for Morningstar. "The U.S. is still very tech dominated and growth leaning, but broad non-U.S. indexes are dominated by financials and health care. It's a different set of market components relative to the U.S." Benz likes the idea of investors using a broad global stock benchmark as a guide to determine how much to invest overseas, noting that the split is generally about 60% toward the U.S. and 40% non-U.S. Reassess your goals and risk appetite The market's slide in April might have been a good chance for investors to do a gut check of whether their asset allocation reflects the risk they are willing to take. "My big [issue] is the value of derisking for people who are getting close to retirement," said Benz. "It might not have felt like a great idea to derisk in the throes of tariff-related market losses, but now stocks have clawed their way back into positive territory." Investors who are nearing retirement might want to consider adding safer assets to their portfolios to take advantage of today's higher yields, she added. "Consider taking advantage of the fact that yields are decent today and it will translate to better returns for fixed income versus when yields were very low," said Benz. For savers in retirement plans, this can also mean reviewing where you're directing your contributions. "Let's say you're not ready to retire, but retirement is in the next five to 10 years," said Marguerita Cheng, CFP and chief executive officer of Blue Ocean Global Wealth in Gaithersburg, Md. "You can have some of your existing dollars in something a little more conservative, and when you dollar-cost average you can be a little more growth oriented," she said. Dollar-cost averaging refers to making incremental investments into a certain asset at fixed intervals, say every two weeks, every month or every quarter. By spreading out these investments, you're buying into stocks at different prices over time, instead of trying to wait for the "right" time. Tax-loss harvesting Tax-loss harvesting opportunities may await investors who have taxable brokerage accounts. This involves selling losing positions and using the realized losses to offset gains elsewhere in the portfolio. Be sure to avoid violating the wash-sale rule, which involves selling an asset at a loss and then buying a "substantially identical" security within 30 days before or after the transaction. In such cases, the IRS can block you from taking the loss. Lagging stock sectors this year include energy, health care and consumer discretionary, which might all be solid contenders for tax-loss sales. "Investors with individual stocks, sector funds or ETFs might have an opportunity to take a tax loss in those areas," said Benz.
Yahoo
40 minutes ago
- Yahoo
Opinion - Higher ed reform shouldn't punish low-income students
Congress is understandably concerned about the return on federal investment in higher education and the $1.6 trillion in federal student loan debt. But in its rush to fix a system that too often fails low-income students, the Trump administration's 'one big, beautiful bill' would further reduce opportunity and access for those very students and jeopardize the work of colleges and universities doing the most to serve them. If passed, the bill would enact sweeping changes to federal financial aid and accountability rules. Some of its goals are worthy. Colleges should be transparent about student outcomes. They should be accountable for quality. And no student should graduate, or drop out, with insurmountable debt. But reducing access to loans for the students who face the steepest barriers to opportunity is not the way to achieve those goals. One provision of the proposed bill would eliminate subsidized federal loans, which currently prevent interest from accruing while undergraduates are still in school. For students from low-income backgrounds who already borrow more than their wealthier peers, this would significantly increase the cost of a college degree. Another proposal would cap the amount of aid a student could receive at a national median cost by program, without regard for the individual student's or family's specific economic need. The legislation would also eliminate PLUS Loans and raise the minimum course load required to receive full Pell Grant aid, even though many working students enroll part-time by necessity, not choice. Reducing Pell Grant access is counterproductive to lowering student debt. Pell Grant recipients already account for seven of every 10 federal student loan borrowers, and, on average, incur $4,500 more in debt than other non-Pell graduates Capping graduate student borrowing, especially in health and public service fields, would undercut workforce development just as we face national shortages of nurses, teachers and social workers. And the bill's 'risk-sharing' proposal, which would penalize colleges when student loans are forgiven, even through programs like Public Service Loan Forgiveness, would shift resources away from need-based aid and student support and discourage institutions from enrolling those most in need. That includes institutions like the University of Mount Saint Vincent, which I lead. Ours is a small, private, nonprofit university in the Bronx founded in 1847 to educate young women at a time when few others would. Today, we serve students of every background, and more than half are the first in their family to attend college. More than half of our undergraduates receive Pell Grants. Ninety percent of our graduate students are preparing for public service careers in education, nursing or healthcare. And like many mission-driven colleges, we make enormous investments in financial aid and academic support, precisely because we know what it takes for low-income and first-generation students to thrive. This bill threatens our ability to invest in students and potential. It would impose a six-figure penalty, rising annually, because we enroll the very students we were founded to serve. That's not accountability. That's a deterrent. And we are not unique. Hundreds of small, private colleges across the country, many of them religiously affiliated, offer intimate learning environments, close faculty support and flexible programs that enable students to work while pursuing their degrees. These institutions are among the most accessible and most responsive options for students who are otherwise being left behind in higher education. The better path forward is one that strengthens accountability for all institutions without dismantling the tools that low-income students need to access and afford college in the first place. That means preserving need-based aid, not narrowing it. And it means supporting colleges that produce teachers, nurses and public servants, not penalizing them. At a time when the U.S. risks falling behind in educational attainment and workforce readiness, we should be doubling down on institutions that help students rise. The question isn't whether reform is needed, but whether we're reforming the right things. Susan R. Burns, Ph.D., is president of the University of Mount Saint Vincent in the Bronx. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
40 minutes ago
- Yahoo
Iran warns against IAEA pressure, Israel attack as more US talks loom
Tehran, Iran – Iran has warned against Western-led escalation by the global nuclear watchdog and any attack by Israel amid preparations for a sixth round of talks with the United States. Behrouz Kamalvandi, the deputy head of the Atomic Energy Organization of Iran, said the country will have a 'proportionate' response to any action against it by Western countries, as well as the International Atomic Energy Agency (IAEA). 'If we wanted to reduce our cooperation, the agency would not be able to carry out its duties. We have cooperated beyond our duties, and if the agency does not appreciate that, we will degrade cooperation to its normal levels,' Kamalvandi told Iranian state television late Monday. His comments come as the IAEA Board of Governors is holding a five-day meeting in Vienna, with Iran's nuclear programme once again in the spotlight as Tehran is accused of 'non-compliance' with nuclear non-proliferation obligations. Backed by the United States, the three European powers still party to Iran's 2015 nuclear deal – France, Germany and the United Kingdom – are pushing for yet another censure resolution against Iran for insufficient cooperation. The latest resolution, however, could prove the most serious in two decades and signal a shift toward escalated confrontation. The 2015 deal lifted United Nations sanctions in exchange for strict curbs on Iran's nuclear programme, including a 3.67 percent limit on its enrichment of uranium. US President Donald Trump unilaterally withdrew from the landmark nuclear accord in 2018 and imposed harsh sanctions. But the European signatories to the nuclear deal could still activate a 'snapback' mechanism baked into the 2015 deal that would reinstate all United Nations Security Council sanctions on Iran lifted as part of the agreement. A strongly worded IAEA resolution could pave the way for that to Foreign Minister Abbas Araghchi again warned this week that such a move would signal 'another major strategic mistake' on the part of France, Germany and the UK. Araghchi said the European powers appear poised to ratchet up tensions again by reviving an investigation into Iran's developing nuclear weapons, despite Tehran's insistence that its nuclear programme is strictly peaceful. Iranian authorities have for long emphasised that the country could abandon the nuclear Non-Proliferation Treaty (NPT) – designed to prevent the spread of nuclear weapons – and cut off access to IAEA inspectors if the UN sanctions are reimposed. The IAEA scrutiny also involves traces of nuclear particles found in several undeclared Iranian sites, mainly based on intelligence from Israel – which Israeli Prime Minister Benjamin Netanyahu boasted were obtained as part of a major 2018 raid on a warehouse holding documents in Tehran. Iran's deputy nuclear chief Kamalvandi told state television this week that the country has provided evidence to the IAEA that the cases are a result of 'sabotage' and that the nuclear materials were planted. He said Iranian officials were surprised when in Turquzabad, one of the sites in question near Tehran, agency inspectors knew exactly which points to test for suspected materials. 'It is natural that whoever contaminated the site, has given the exact coordinates for the inspectors to look,' Kamalvandi wrangling over Iran's nuclear programme is likely to be affected by Tehran's major announcement this week that a 'treasure trove' of thousands of documents has been obtained from inside Israel. The documents, which are allegedly related to Israel's clandestine nuclear programme, will be unveiled soon, according to Iranian authorities. No details have been published yet, but the fact that the Iranian Army, Supreme National Security Council, Islamic Revolutionary Guard Corps, and Ministry of Intelligence have all separately hailed the announcement shows Iran is doubling down on the significance of the documents. Specifically, Iran says the documents could increase deterrence against long-threatened Israeli aggression against Iranian nuclear sites, and reverse the perception that Iran has been weakened amid the regional fallout of the war on Gaza that saw ally Bashar al-Assad fall in Syria and Hezbollah take heavy blows in Lebanon. The Supreme National Security Council said the information will allow Iran to 'immediately retaliate against any potential Zionist regime [Israeli] aggression on the country's nuclear facilities by attacking its hidden nuclear sites, and to respond proportionately to any hostile acts against economic and military infrastructure'. IAEA chief Rafael Grossi said this week that he believes Israeli air strikes would push Iran to seek nuclear weapons. Grossi himself has come under fire from Iran, with Iran's nuclear head Mohammad Eslami saying that he had proven 'that the IAEA is merely a tool in the hands of a few nations'. 'They issue the commands, and he obediently follows, executing their directives,' Eslami said on Tuesday. Iranian authorities have claimed Grossi is looking to become the next secretary-general of the UN, and is therefore sacrificing the nuclear watchdog's integrity by adopting pro-Western rhetoric to gain personal favour. Grossi says the agency is merely doing its job. Trump said the sixth round of talks with Iran will take place on Thursday, but Iran's Foreign Ministry said planning is under way to hold a meeting next Sunday. After five rounds of negotiations mediated by Oman, Iran and the US have yet to see eye-to-eye on the most fundamental issue: enrichment. Trump, who initially emphasised his only demand was that Iran cannot have a nuclear weapon, has in recent weeks shifted his rhetoric to push for zero nuclear enrichment taking place on Iranian soil. Tehran maintains this is a non-starter since it has a legitimate right to use nuclear energy for civilian use such as power generation and making radiopharmaceuticals, but said on Monday it will offer a counterproposal to Washington soon to advance the talks. Mossad chief David Barnea and other Israeli officials are slated to meet with Steve Witkoff, Trump's envoy leading the talks, before the sixth round.
