Skift Take
Agreement after a 53-day strike is good news for Boeing and its airline customers, but don't expect the planemaker's problems to disappear overnight. This will be a long-haul recovery.
Agreement has been reached in a bruising labor dispute between Boeing and its largest union. Late on Monday, it was announced that members of the International Association of Machinists and Aerospace Workers (IAM) had voted to accept the latest pay offer. It ends a hugely damaging 53-day walkout by staff that crippled production of Boeing’s best-selling planes.
Under the new deal, staff will receive a 38% pay rise over the next four years. There will also be a one-off $12,000 bonus and enhancements to retirement options. While a simple majority of 50% + one vote was needed for the vote to pass, 59% of union members ultimately voted in favor. It f