Spirit AeroSystems said on Tuesday it would receive up to $350 million in advance payments from its largest customer Boeing and up to $107 million from Airbus , giving the struggling supplier a lifeline as it burns cash after four consecutive years of losses.

One week after Spirit AeroSystems announced it has "substantial doubt" about its ability to continue as a going concern, Boeing is offering help.

The airframe manufacturer will get a new cash infusion from its major customer to ensure it can remain financially stable and maintain inventory, reduce operating expenses,

Spirit, which must repay the $350 million in 2026, saw its shares rise 1.2%. Boeing, which plans to buy its one-time subsidiary, is trying to revive its battered supply chain and jet production after a 53-day strike halted most of its output. Boeing has ...

Spirit said this week it is seeking ways to raise liquidity including possible customer advances. The supplier has previously disclosed it has drawn down a $350-million bridge loan set up when Boeing agreed to acquire the supplier, and previous advances from both the U.S. planemaker and rival Airbus that Spirit has not repaid.

Spirit AeroSystems said on Tuesday that Boeing will pay a total of up to $350 million in advance payments to the firm, providing the struggling supplier a lifeline as it continues to burn cash after four consecutive years of losses.