Boeing Co. reported losses of more than $6 billion in the last quarter as a vote on a labor contract that could end a week-long strike that paralyzed the aviation giant begins Wednesday.
“Returning Boeing to its former heritage will take time, but with the right focus and culture, we will once again be an iconic company,” said Kelly Ortberg, Boeing President and CEO. “We can become leaders in aerospace.” earnings release.
The strike was an early test for Ortberg, who took office in August.
A few weeks later, on September 13, approximately 33,000 machinists went on strike. The strike could end as soon as Wednesday if union members vote to approve a contract that includes a 35% pay increase over four years, a $7,000 ratification bonus and capital improvements. Retirement planning.
There is no guarantee that union members will approve the deal, which does not meet union members' demands for a 40% pay increase over four years and the reinstatement of pension plans.
Boeing has also posted $8 billion in losses over the past nine months, with regulatory scrutiny and safety changes introduced after a door on a Boeing 737 was blown off during an Alaska Airlines flight in January. .
Ortberg said the company will now focus on “fundamentally changing our culture, stabilizing our business and improving program execution while laying the foundation for Boeing's future.”
