Spirit AeroSystems said Boeing would give it advance payments of $425 million and help it address issues like higher levels of inventory and lower cashflows after the US aviation regulator capped the planemaker’s 737 MAX production.
The agreement announced by Spirit on Tuesday comes amid talks between the two for Boeing to buy the fuselage supplier, a former subsidiary, and as the planemaker tries to get control of a sprawling crisis sparked by a mid-air panel blowout in January.
Under the deal, Spirit will maintain a production rate that supports Boeing’s contractual production demand.
