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Spirit to Receive up to $350 Million in Advance Payments
Continuing Coverage: Boeing to pay Spirit AeroSystems up to $350M in advance payments
One week after Spirit AeroSystems announced it has "substantial doubt" about its ability to continue as a going concern, Boeing is offering help.
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.
Boeing will provide Spirit AeroSystems with up to $350M cash lifeline
In April, Boeing provided a $425 million advance to support Spirit's liquidity. Spirit, Wichita's largest employer with around 12,800 full-time workers, previously disclosed it has spent all of that money, as well as the entirety of a $350 million bridge loan that was set up earlier this year.
1d
Boeing throws Spirit $350 million lifeline to support output
Boeing Co. will advance Spirit Aerosystems Holdings Inc. as much as $350 million as the planemaker gives its most important ...
Flightglobal
1d
Spirit AeroSystems secures fresh loan from Boeing amid cash crunch
Boeing has agreed to loan aerostructures manufacturer Spirit AeroSystems up to $330 million, a move coming just days after ...
5d
Exclusive: Boeing close to funding agreement to help supplier Spirit Aero, source says
Spirit AeroSystems and Boeing are close to reaching a funding agreement that would give a cash lifeline to the struggling ...
Oregon Business
1d
Spirit AeroSystems
Boeing
Machinists Return to Work After Strike But Uncertainty Remains-As it considers deep layoffs, the aerospace giant’s ...
17h
on MSN
Boeing begins a new path forward as it restarts 737 Max production and gives cash to troubled supplier
CEO Kelly Ortberg has a four-point plan to improve Boeing. Ending the strike is a start, but analysts say it will take time ...
2d
Machinists return to work at an unsettled Boeing after 8-week strike
As Boeing's Machinists return after eight weeks on strike, experts predict the work stoppage strained finances for the ...
6d
In wake of Spirit SEC filing, aerospace analyst 'would not be surprised' to see another Boeing cash advance
"We would not be surprised to see another such arrangement be announced," a prominent Wall Street aerospace sector analyst ...
Globalair
2d
Boeing explores possible Jeppesen sale, report says
A recent report claims Boeing is looking into the possible sale of its Jeppesen navigation unit. After a rocky 2024, the sale ...
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