Spirit AeroSystems Holdings Inc. and Airbus SE are dispatching senior executives to a meeting in New York in the coming days to chart a path forward for a takeover of key aircraft-manufacturing assets, according to people familiar with the matter.

The face-to-face session is set to involve Spirit Chief Executive Officer Pat Shanahan, while Airbus may send Christian Scherer, the head of its commercial aircraft business, said the people, who asked not to be identified discussing private deliberations.

The date and the participants are not final, and the contours of the meeting may change, the people said.

Spirit, which was spun out of Boeing Co. in 2005, is in an increasingly stretched financial position as the U.S. planemaker slows output of its key 737 aircraft, the main source of revenue for both manufacturers.

Earlier this month, Boeing agreed to inject an additional $425 million into the supplier. That came after the companies confirmed they were in merger talks to bolster their factory operations in the wake of a near-catastrophe involving a 737 Max earlier this year.

The full extent of Spirit’s financial woes will be laid bare when the Wichita, Kansas-based company reports earnings on May 7. With financial pressure building, the company will need to consider other options if doesn’t soon see progress with Airbus. Those include selling the entire business to Boeing before the European company pries loose the parts that make components for its A350 and A220 jets, two of the people said.

“As commercial negotiations with Airbus continue, many options remain viable. We value our partnership with Airbus and are committed to acting in the best interests of the customer, our employees and our shareholders,” said Joe Buccino, a Spirit spokesman. 

Airbus said the early-stage discussions with Spirit “cover a variety of options, including acquiring from Spirit AeroSystems some of the activities that they carry out for Airbus.” Boeing declined to comment. 

Public statements by the leaders of the two airplane manufacturers have revealed different timelines on when talks might be concluded. Boeing CEO Dave Calhoun has said he’d like to strike a deal by the end of June. Airbus CEO Guillaume Faury has taken a more muted tone, saying talks are at an early stage. 

Bloomberg first reported this month that the Spirit-Airbus talks were mired in protracted discussions over how to price factories that supply structural components for all of Airbus’s commercial aircraft, particularly a facility in Belfast, Ireland, that builds wings for the A220 jetliner. 

The situation is also complicated by separate negotiations dating to mid-2023 over supplier agreements, with the European planemaker determined not to be rushed as it evaluates a very complex set of business decisions, said the people.

Shanahan, a Boeing veteran who took charge of the struggling supplier in October, has been working with Airbus to address money-losing contracts for the A220 and A350. As a potential contender for the top job at Boeing once Calhoun leaves at the end of the year, the Spirit leader has added incentive to find a resolution to the interlocking talks.

While Airbus holds the upper hand, it also faces risks. Spirit is crucial to its plans to rapidly ramp up production of the A220 and A350 jetliners.

“As with any large and complex deal, there are a number of terms and issues we need to work through including price, financing, and other key items, and the best approach to handling and potentially divesting certain work that Spirit does for other customers,” Boeing Chief Financial Officer Brian West said on an earnings call last week.

“We believe in the strategic logic of a deal, but we’ll take the time needed to get this right before we decide to enter into agreement,” West said.