Wednesday, November 13, 2024 Spirit AeroSystems secures a $107M credit line from Airbus to boost production, with repayment tied to key transactions or due by April 1, 2026. Spirit AeroSystems has announced the execution of a Second Amended and Restated Memorandum of Agreement with Airbus. Under this agreement, Airbus will extend a non-interest-bearing line of credit worth $107 million to Spirit.
This financial arrangement will serve as advance payments to support production activities for various Airbus programs and ensure the ongoing delivery of specified products from Spirit to Airbus. According to the terms, any funds utilized under this line of credit, along with the associated repayment responsibilities, will either be directly or indirectly assumed by Airbus or one of its affiliates upon the completion of the transactions outlined in the term sheet dated June 30, 2024. Alternatively, if these transactions do not close sooner, the borrowed amount will be repaid to Airbus by April 1, 2026.
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