A tentative deal with The International Association of Machinists and Aerospace Workers (IAM) has upset many workers who were hoping for higher wage hikes and better pensions, its lead negotiator, Jon Holden, told Reuters on Monday. In the letter, COO Stephanie Pope reiterated "unprecedented commitment" to the terms of the proposed deal, which include a general wage increase of 25% and a commitment to build its next commercial airplane in the Seattle area.
Boeing (BA) closed the most recent trading day at $160.07, moving -1.74% from the previous trading session.
Aerospace firm Boeing doesn’t expect to reach production of 42 737 MAX jets a month until early 2025, about six months later than originally planned.