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Spirit AeroSystems, Boeing
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.
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 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 supplier a financial lifeline ahead of the planned purchase of the company.
Boeing Catches Retail Buzz With $350M Lifeline To Struggling Spirit AeroSystems
Shares of Boeing Co. ($BA) gained retail investor interest on Tuesday after the aerospace giant agreed to provide up to $350 million in advance payments to Spirit AeroSystems ($SPR) to stabilize its key supplier amid ongoing liquidity challenges.
Boeing will provide Spirit AeroSystems with up to $350M cash lifeline
Spirit AeroSystems signage near a Boeing 737 fuselage is seen here in January outside the Boeing manufacturing facility in Renton, Wash. Of late, both companies have seen their financial challenges enhanced by a Boeing machinists strike that lasted nearly two months.
2d
on MSN
Spirit Aerosystems gains after confirming advance payments pact with Boeing
Spirit Aerosystems (NYSE:SPR) rose 1.6% after the company confirmed that it entered into an advance payments pact with Boeing ...
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 ...
The Gazette
2d
Spirit to receive up to $350 million in advance payments from Boeing
(
Reuters
) -
Spirit
AeroSystems
said on Tuesday that Boeing will pay a total of up to $350 million in advance payments ...
5d
on MSN
Spirit AeroSystems gains on report it's close to funding agreement with Boeing
Spirit AeroSystems (NYSE:SPR) edged higher by 0.3% after a report that the struggling supplier is close to reaching a funding ...
8d
on MSN
Spirit Aero raises doubts over ability to continue as going concern
U.S. supplier Spirit AeroSystems said on Tuesday in a quarterly filing that substantial doubt exists about the company's ...
The Gazette
2d
Spirit Aero to receive up to $350 million in funding from Boeing
(
Reuters
) -
Spirit
AeroSystems
said Tuesday that planemaker Boeing will pay up to $350 million in advance payments to ...
1d
on MSN
Airbus revised funding terms with Spirit AeroSystems confirmed (update)
Airbus (OTCPK:EADSY) is nearing an agreement to provide funding and revised payment terms to Spirit AeroSystems (NYSE:SPR) as ...
13d
Spirit AeroSystems presents Wichita engineering union with four-year contract offer
Spirit AeroSystems has presented its engineering union in Wichita with a four-year contract offer, a spokesperson for the ...
Yahoo Finance
1d
Spirit Aero gets help from Boeing, Airbus to prop up weak finances
(
Reuters
) -
Spirit
AeroSystems
said on Tuesday it would receive up to $350 million in advance payments from its largest ...
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