Boeing's shares increase after tentative labour offer that might avert strike

INSUBCONTINENT EXCLUSIVE:
Boeing | (Photo: Reuters)3 min read Last Updated : Sep 09 2024 | 11:41 PM IST Boeing's shares rose 3.7 per cent on Monday after the
first major negotiation by new CEO Kelly Ortberg, who took the helm just a month ago and has been tasked with turning around the struggling
vote on Sept
12 and can strike as early as Sept
restore investor and customer faith, navigate regulatory scrutiny and ramp up production of its 737 MAX after a door plug on a near-new MAX
workhorse 737 at its U.S
Pacific Northwest facilities, if the project is started during the four-year period of the labor contract, though the planemaker has not yet
over four years, below the 40 per cent wage hike demanded by the International Association of Machinists and Aerospace Workers (IAM) union,
down the deal
There will be two votes on Thursday - one on the contract, which requires 50 per cent to pass, and the second on whether to strike, which
billion and $3.5 billion, at a time Boeing is already burning cash due to cost overruns in its defense business and lower 737 MAX
auto-generated from a syndicated feed.)First Published: Sep 09 2024 | 11:41 PMIST