Spirit AeroSystems saw a surge in its shares on Friday following reports of a potential acquisition by Boeing, as the aviation giant aims to address its latest safety crisis. According to the Wall Street Journal, Spirit has engaged in preliminary discussions with Boeing, although the outcome of the talks remains uncertain.

If the deal materializes, it would mark a return for Spirit to Boeing, from which it was spun off in 2005. The news of the potential acquisition propelled Spirit’s stock by approximately 13 percent, while Boeing experienced a 1.3 percent decline. This surge in stock value elevated Spirit’s market capitalization to $3.75 billion.

Both companies refrained from providing official comments on the matter. The discussions between Spirit and Boeing come at a time when Boeing is facing heightened scrutiny following an incident involving an Alaska Airlines Boeing 737 MAX. A preliminary investigation revealed missing bolts that contributed to a panel blowout during a flight, prompting increased attention on Boeing’s activities in Renton, Washington.

Furthermore, Boeing has disclosed manufacturing and quality control issues at Spirit over the past year, leading to the replacement of Spirit’s chief executive in October. In response, the Federal Aviation Administration has given Boeing 90 days to devise a plan to address the quality control concerns. Boeing’s Chief Executive, Dave Calhoun, acknowledged the need to address the challenges, emphasizing the collaborative efforts between engineers and mechanics to tackle the issues.

Boeing had initially divested its Wichita assets to Canadian private equity firm Onex in 2005, leading to the establishment of Spirit AeroSystems. The move was intended to enable Boeing to focus on its core strengths in plane assembly, as stated by Alan Mulally, the former CEO of Boeing. However, the recent developments have prompted a potential reunion between Boeing and Spirit AeroSystems, signaling a significant shift in the aviation industry landscape.