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Boeing has committed to providing financial support to Spirit AeroSystems, a company known for developing aircraft fuselages. The US-based planemaker will advance up to $350 million to aid Spirit in managing its production amid a liquidity crisis. According to the agreement, Spirit must repay a quarter of this sum by April 2026 and the remaining balance by the end of that year.
As reported by The Wall Street Journal, Boeing's payment aims to assist Spirit in addressing its low operational cash flows despite high inventory levels. This move follows reports from Simple Flying that highlighted Boeing's consideration of funding for Spirit after the latter disclosed uncertainty about continuing operations due to substantial losses over recent years.
Spirit previously had over $823 million in cash at the end of last year but saw this reduce to less than $218 million by September this year. The company anticipates burning through approximately $500 million during the remainder of this year and into next year.
