Boeing Dodges Strike That Could Have Hit 737 MAX 10, 777X Certification — Engineers' Union Approves New Deal

Boeing Co. (NYSE: BA) has avoided a potential strike after the Society of Professional Engineering Employees in Aerospace (SPEEA) approved a new four-year contract, which includes a guaranteed 10% wage increase and annual raises of 4%, with possible additional performance-based pay. This agreement alleviates concerns regarding the certification processes for the 737 MAX 10 and 777X aircraft, which could have been disrupted by a work stoppage. Additionally, Boeing has recently faced delays in the 737 MAX 10 certification due to a software issue but has secured a $20 billion contract from the Pentagon for the development of the U.S. Navy’s next-generation stealth fighter.