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.

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,

Boeing has said it plans to gradually resume production of its 737 MAX as machinists are set to return to their jobs Tuesday. Spirit previously disclosed it drew down a $350-million bridge loan set up when Boeing agreed to acquire the supplier, and ...