By Abhijith Ganapavaram

July 1 (Reuters) - Airbus may end up owning

some assets of Spirit AeroSystems ( SPR ) in Scotland and

Malaysia if the transatlantic supplier is unable to find a buyer

for them, a filing from the aerostructures company showed on

Monday.

The European planemaker has agreed to take over core

activities at four of the supplier's plants in the United

States, Northern Ireland, France and Morocco, while rival Boeing ( BA )

would take a few others.

Spirit said on Monday it planned to sell operations in

Prestwick, Scotland and in Subang, Malaysia that support Airbus

programs and those in Belfast that do not support the programs.

However, Spirit's term sheet with Airbus - named "Project

Sparrow" - leaves the door open for the planemaker to own parts

of two plants that were not a part of the deal announced on

Monday.

Airbus and Spirit shall cooperate to "implement an

alternative arrangement pursuant to which the Subang Assets and

the associated liabilities shall be allocated and transferred to

Spirit and Airbus" if the assets are not bought by a third party

before mid-2025, the filing showed.

The Subang plant makes wing fixed leading edge and wing

movable leading edge for Boeing's ( BA ) 787 Dreamliner, according to

Spirit's website.

Its Prestwick plant, which makes wing parts for Airbus A320,

could be classified under "transferred business" if a buyer

could not be found, the filing said.

Airbus Kinston, the Belfast Airbus business, the A220 Pylon

business and the Morocco business that the planemaker is buying

are already part of such a classification.

Since Spirit's Airbus-related activities have been losing

money, Airbus said it would receive $559 million in compensation

from Spirit, depending on the final outlines of the deal, while

it would pay the supplier a symbolic $1 for the assets.

"We are evaluating options for assets that may not be

acquired by Boeing ( BA ) or Airbus. The ultimate owner for those

operations as a result of this process may be Boeing ( BA ), Airbus or

a different owner," Spirit Aero senior vice president of Airbus

and Regional/Business Jets Programs said in a letter.

Spirit owes Airbus $122.1 million under a loan arrangement,

the filing showed.

Separately, Spirit said it has set up a cash-based program

of $50 million to promote employee retention and to incentivize

efforts to complete the merger.