Airbus is poised to finalise an agreement as early as Wednesday with struggling aerospace supplier Spirit Aerosystems on fresh funding and revised payment terms, a person familiar with the matter said.

Hours after announcing it will receive up to $350 million in advance payments from Boeing, Spirit said it has an updated memorandum of agreement with Airbus stating the European aerospace giant will provide the major supplier with a $107 million non-interest-bearing line of credit.

Airbus nearing funding agreement with Spirit AeroSystems as Boeing commits to $350 million advance payments pact.

A key supplier to both Boeing and Airbus, as well as smaller jetmakers like Bombardier (BBDb.TO), opens new tab, Spirit Aero has seen inventory pile up and deliveries slump in recent weeks following a recently settled strike at Boeing. Airbus agreed to ...

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 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.