Boeing said Monday that 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, brings Boeing's largest provider of spare parts in-house. CEO Kelly Ortberg called it a "pivotal moment" for the company'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 defense 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.

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