Boeing will advance USD425m to Spirit AeroSystems to maintain production levels for various commercial aircraft programs.
The advance payment is related to long-term agreements between Spirit and Boeing for supplying aircraft programs such as the B737, B747, B767, B777, and B787.
The agreement aims to address issues faced by Spirit, including high inventory levels, lower cash flow, and higher production costs due to quality verification improvements.
Boeing will make three advance payments to Spirit, with specific deadlines, in exchange for operational plans, financial forecasts, and weekly financial information from Spirit.
