Boeing and Spirit AeroSystems have entered into a memorandum of agreement aimed at addressing the supplier's operational challenges. As part of the agreement, Boeing will provide Spirit AeroSystems with $425 million in advance payments. This financial support is intended to help Spirit manage higher inventory levels and lower cash flows, which have been exacerbated by a production cap imposed by the U.S. aviation regulator on Boeing's 737 MAX aircraft. The agreement is progressing slowly, but it represents a significant step towards stabilizing Spirit's operations and ensuring Boeing can continue to meet its contractual obligations.
#Boeing is giving subcontractor Spirit Aerosystems $425 million in advance payments so it can maintain production and allow the US aviation giant to fulfill its orders, a regulatory filing shows. https://t.co/yNqUHXlabo
Spirit AeroSystems said Boeing would give it advance payments of $425 million and help it address issues like higher levels of inventory and lower cashflows after the US aviation regulator capped the planemaker's 737 MAX production https://t.co/osc2qmCq3m
Spirit AeroSystems said Boeing would give it advance payments of $425 million and help it address issues like higher levels of inventory and lower cashflows after the US aviation regulator capped the planemaker's 737 MAX production. More here: https://t.co/ERQl1TC5a8
⚠️ SPIRIT, BOEING ENTER INTO MEMORANDUM OF AGREEMENT TO IMPROVE AERO SUPPLIER'S ISSUES Full Story → https://t.co/Iw0K2HUNIj
Spirit, Boeing enter into memorandum of agreement to improve aero supplier's issues https://t.co/L6d1L7gojP https://t.co/DnwIlwmKGt
SPIRIT AEROSYSTEMS: TO SUPPORT BOEING’S CONTRACTUAL DEMAND $SPR BOEING WILL PAY ADVANCE PAYMENT OF $425M $BA
BOEING TALKS FOR SPIRIT PURCHASE ONLY PROGRESSING SLOWLY $BA $SPR