In April, Boeing provided a $425 million advance to support Spirit's liquidity. Spirit, Wichita's largest employer with around 12,800 full-time workers, previously disclosed it has spent all of that money, as well as the entirety of a $350 million bridge loan that was set up earlier this year.

According to Reuters, Boeing and Spirit AeroSystems are close to reaching a funding agreement to give the struggling supplier a cash lifeline. The funding will increase the company's liquidity, which it needs to continue operating for the foreseeable future.

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,