Boeing Reaches Tentative Deal with Union to Prevent Strike
Key Points Boeing and the IAM union reached a tentative four-year deal to prevent a potential strike. The contract includes a 25% wage increase, improved retirement benefits, and a commitment to build the next commercial airplane in Seattle. If the project starts during the contract term, Boeing commits to producing the 737 replacement in the Pacific Northwest. Boeing faces financial hurdles, including a $1.44 billion quarterly loss and potential delays in achieving free cash flow targets due to substantial debt. Boeing announced on Sunday that it has reached a tentative agreement with the International Association of Machinists and Aerospace Workers...
