BOEING and Airbus will provide US$450 million (GBP353 million) in emergency funding to troubled supplier Spirit AeroSystems, which employs 3,600 people in Belfast, reports London's Daily Telegraph.
The planemakers have stepped in to bail out Kansas-based Spirit after the company was hit by a recent drop in production, owing largely to the safety crisis at Boeing.
Spirit delivers whole aircraft fuselages to Boeing's Seattle production lines, while its Belfast factory predominantly supplies parts to Airbus.
Under the terms of the bailout, boeing and Airbus have agreed to inject $350 million and $107 million respectively to help shore up operations.
The latter lot of cash is expected to be used to prop up the Northern Irish plant, which produces wings and fuselage sections for the A220 jet.
Spirit said the bailout would address its 'high levels of inventory and lower operational cash flows', as well as 'lingering effects brought on by the recent strike by Boeing employees'.
SeaNews Turkey
The planemakers have stepped in to bail out Kansas-based Spirit after the company was hit by a recent drop in production, owing largely to the safety crisis at Boeing.
Spirit delivers whole aircraft fuselages to Boeing's Seattle production lines, while its Belfast factory predominantly supplies parts to Airbus.
Under the terms of the bailout, boeing and Airbus have agreed to inject $350 million and $107 million respectively to help shore up operations.
The latter lot of cash is expected to be used to prop up the Northern Irish plant, which produces wings and fuselage sections for the A220 jet.
Spirit said the bailout would address its 'high levels of inventory and lower operational cash flows', as well as 'lingering effects brought on by the recent strike by Boeing employees'.
SeaNews Turkey
