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.

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.

There had been speculation about what kind of help could be coming from Boeing after Spirit AeroSystems issued a "going concern" warning last week. A week after Spirit AeroSystems issued a warning about its ability to operate moving forward,

Nov 12 (Reuters) - Spirit AeroSystems (SPR.N), opens new tab said Tuesday that ... and lingering effects brought on by the recent strike by Boeing employees." Spirit, which must repay the $350 million in 2026, saw its shares rise 1.2%.

Wichita-based Spirit AeroSystems says it will soon end the furloughs of some of its employees and has no immediate plans to implement additional furloughs or layoffs after Boeing workers approved a contract offer on Monday.

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.