Boeing Union Endorses Latest Offer to End Crippling Strike

Published On Oct 31, 2024, 7:46 PM

Boeing has reached a tentative agreement with striking workers, which may end a prolonged strike that has severely impacted its commercial airplane production and resulted in significant financial losses. The proposed deal includes a 38% wage increase over four years and a $12,000 signing bonus for each worker. The union leaders have recommended the deal to their members, warning that rejecting it could result in less favorable terms in the future. Boeing has been losing around $100 million per day due to the strike, which has lasted nearly two months and affected production of key aircraft like the 737 Max. If ratified, this agreement could provide a critical turnaround for Boeing's ongoing difficulties.

Read full article

Stock Forecasts

BAView BA chart on TradingView

Positive

The resolution of the strike may significantly improve Boeing’s operational capacity and restore investor confidence, leading to an uptick in share prices as production resumes. Given the potential for renewed operational flow and reduced losses, Boeing’s share price is likely to increase as investors react positively to the end of the strike.

Related News

Boeing Reaches New Deal With Union in Hopes of Ending Strike

Oct 31, 2024, 7:05 PM

The aerospace manufacturer’s largest union said it would put the contract to a vote on Monday by its 33,000 members, who rejected two earlier agreements.

BA

October jobs report to arrive days ahead of Election Day, Fed's rate cut decision

Oct 31, 2024, 6:00 AM

The release of the October jobs report on Friday that will give American voters and the Fed's policymakers a last look at labor market data ahead of Election Day and the Fed meeting.

XLY
BA

Boeing looking to sell space business: report

Oct 29, 2024, 12:49 PM

Boeing is reportedly exploring the sale of portions of its space business, such as its Starliner space vehicle and operations supporting the International Space Station.

BA