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.

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 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.