Boeing has agreed to give Spirit AeroSystems , the company that develops aircraft fuselages, a hefty financial boost. The US planemaker will provide up to $350 million in advance to support the production of products as the supplier grapples with a liquidity crisis.

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.

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.

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 AeroSystems and Boeing are close to reaching a funding agreement that would give a cash lifeline to the struggling Boeing supplier, an industry source familiar with the matter said.A deal could be announced in the next few days,

(Reuters) - 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.

By David Shepardson and Allison Lampert (Reuters) -Spirit AeroSystems said Tuesday that planemaker Boeing will pay 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.