Spirit AeroSystems has established a second amended and restated memorandum of agreement with Airbus, in which Airbus has agreed to provide Spirit a non-interest-bearing line of credit totalling $107 million.
Spirit will use the line of credit as advance payments in connection with production for various Airbus programs and the continued delivery of certain products to Airbus by Spirit.
Per the agreement, amounts drawn under the line of credit and the related repayment obligations, will be directly or indirectly assumed by Airbus or one of its affiliates upon the closing of the transactions contemplated by the term sheet which is dated June 30, 2024.