One week after Spirit AeroSystems announced it has "substantial doubt" about its ability to continue as a going concern, Boeing is offering help.

Spirit Aerosystems (NYSE:SPR) rose 1.6% after the company confirmed that it entered into an advance payments pact with Boeing (BA). Boeing (BA) committed to pay as much as $350 million in the advanced payment pact,

Boeing has agreed to give Spirit AeroSystems , the company that develops aircraft fuselages, a hefty financial boost. The US planemaker will provide up to $350 million in advance to support the production of products as the supplier grapples with a liquidity crisis.

The payments are intended to help address high levels of inventory and lower operational cash flows.

The airframe manufacturer will get a new cash infusion from its major customer to ensure it can remain financially stable and maintain inventory, reduce operating expenses,

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.

"We would not be surprised to see another such arrangement be announced," a prominent Wall Street aerospace sector analyst said.

Spirit AeroSystems said on Tuesday that Boeing will pay a total of 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.

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.