Boeing will provide Spirit AeroSystems with up to $350M cash lifeline
Spirit said Tuesday it will receive up to $350 million in advance payments from Boeing, which will be utilized by the supplier to provide products for Boeing at the rate
Spirit Aero Receives Lifeline with $350 Million Advance from Boeing
Struggling supplier Spirit AeroSystems secured up to $350 million in advance payments from Boeing amidst cash-flow challenges. The deal follows a strike at Boeing that impacted Spirit's inventory and delivery capabilities.
Spirit Aero gets planemaker help to prop up weak finances
By David Shepardson, Allison Lampert and Tim Hepher (Reuters) -Spirit AeroSystems said on Tuesday it would receive up to $350 million in advance payments from its largest customer Boeing, giving the struggling supplier a lifeline as it burns cash after four consecutive years of losses.
Boeing to Pay Spirit AeroSystems Up to $350 Million in Advance
Boeing has agreed to pay Spirit AeroSystems up to $350 million in advance to keep producing products for it as the fuselage supplier works through a liquidity crunch. The jet maker said Tuesday that the advance payments are intended to help Spirit address high levels of inventory and lower operational cash flows.
Spirit AeroSystems Announces Advance Payments Deal With Boeing
Tuesday announced an Advance Payments Agreement by which Boeing Co. (BA) will pay an advance of up to a total of $350 million to produce Boeing products at the rates required by Boeing. The payments will help Spirit's high levels of inventory and lower operational cash flows,
Spirit Aero to receive up to $350 million in funding from Boeing
By David Shepardson and Allison Lampert (Reuters) -Spirit AeroSystems said Tuesday that planemaker Boeing will pay up to $350 million in advance payments to the firm, providing the struggling supplier a lifeline as it continues to burn cash after four consecutive years of losses.
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