Page 10 - Boeing

Boeing to repay lost wages to furloughed employees, proceed with job cuts

Boeing on Monday won ratification of a contract giving its machinists a 38 per cent pay hike over four years and a $12,000 bonus, ending the strike

Boeing workers strike over but aerospace giant still faces many challenges

Factory workers at Boeing have voted to accept a contract offer and end their strike after more than seven weeks, clearing the way for the company to restart idled Pacific Northwest assembly lines. But the strike was just one of many challenges the troubled US aerospace giant faces as it works to return to profitability and regain public confidence. Boeing's 33,000 striking machinists disbanded their picket lines late Monday after leaders of the International Association of Machinists and Aerospace Workers district in Seattle said 59 per cent of union members who cast ballots agreed to approve the company's fourth formal offer, which included a 38 per cent wage increase over four years. Union machinists assemble the 737 Max, Boeing's bestselling airliner, along with the 777 or triple-seven jet and the 767 cargo plane at factories in Renton and Everett, Washington. Resuming production will allow Boeing to generate much-needed cash, which it has been bleeding. Even for a company the

Boeing CEO Ortberg in battle to mend rifts after bitter strike ends

More than 33,000 factory workers in the US Northwest will trudge back to work over the next week after they voted by a slim margin to accept Boeing's third contract offer

Boeing machinists hold contract vote that could end their 7-week strike

Unionised factory workers at Boeing are voting Monday whether to accept a contract offer or to continue their strike, which has lasted more than seven weeks and shut down production of most Boeing passenger planes. A vote to ratify the contract would clear the way for the aerospace giant to resume airplane production and bring in much-needed cash. If members of the International Association of Machinists and Aerospace Workers vote for a third time to reject Boeing's offer, it would plunge the company into further financial peril and uncertainty. In its latest proposed contract, Boeing is offering pay raises of 38% over four years, as well as ratification and productivity bonuses. IAM District 751, which represents Boeing workers in the Pacific Northwest, endorsed the proposal, which is slightly more generous than one the machinists voted down nearly two weeks ago. It is time for our members to lock in these gains and confidently declare victory," the union district said in schedulin

Boeing cleaned up on Air Force parts, including soap dispensers: Pentagon

Boeing overcharged the Air Force nearly USD 1 million for spare parts on C-17 cargo planes, including an 8,000 per cent markup for simple lavatory soap dispensers, according to the Pentagon's inspector general. The Defense Department's auditor reviewed prices paid for 46 spare parts on the C-17 from 2018 to 2022 and found that 12 were overpriced and nine seemed reasonably priced. It couldn't determine the fairness of prices on the other 25 items. The Office of the Inspector General said it reviewed the soap dispenser prices after getting a hotline tip. Boeing disputed the findings. We are reviewing the report, which appears to be based on an inapt comparison of the prices paid for parts that meet aircraft and contract specifications and designs versus basic commercial items that would not be qualified or approved for use on the C-17," Boeing said in a statement. We will continue to work with the OIG and the US Air Force to provide a detailed written response to the report in the .

Boeing union endorses latest offer to end crippling workers' strike

The union plans to hold a vote on the proposal on November 4

Boeing, union hold 'productive' talks in attempt to end stalemate

Boeing confirmed that it has resumed negotiations, and met earlier Tuesday with the union

Boeing to raise up to $19 bn to shore up finances, stave off downgrade

Based on Friday's closing price, Boeing can raise $13.95 billion from the common stock offering, though such issues are typically priced at a discount to ensure enough demand

Four astronauts return after being delayed by Boeing's capsule trouble

Four astronauts returned to Earth on Friday after a nearly eight-month space station stay extended by Boeing's capsule trouble and Hurricane Milton. A SpaceX capsule carrying the crew parachuted before dawn into the Gulf of Mexico just off the Florida coast after undocking from the International Space Station mid-week. The three Americans and one Russian should have been back two months ago. But their homecoming was stalled by problems with Boeing's new Starliner astronaut capsule, which came back empty in September because of safety concerns. Then Hurricane Milton interfered, followed by another two weeks of high wind and rough seas. SpaceX launched the four NASA's Matthew Dominick, Michael Barratt and Jeanette Epps, and Russia's Alexander Grebenkin in March. Barratt, the only space veteran going into the mission, acknowledged the support teams back home that had to replan, retool and kind of redo everything right along with us ... and helped us to roll with all those ...

White House urges Boeing, striking machinists to work towards a deal

President Joe Biden directed his team to encourage parties to continue working to achieve an agreement

Boeing workers reject wage deal, strike continues amid rising tensions

Time is running out for Boeing, historically the largest US exporter, and its biggest union to reach a deal before the presidential election on Nov. 5

Spirit AeroSystems posts deep losses in Q3 as Boeing strike hit finances

Boeing suppliers that invested heavily on materials and tooling to support the planemaker's planned ramp-up of jets have been furloughing workers in recent weeks and holding off on investments due

Boeing CEO Ortberg presses turnaround plan as loss balloons to $6 bn

The company has now racked up losses of nearly $8 billion for the current year, as a halt in production of its 737 MAX, 777 and 767 planes following the strike

Boeing-made communication satellite explodes in space, reason unknown

This is not the first loss for Intelsat. Earlier in 2019, the company had lost another Boeing-made satellite, IS-29e

Nasa's SpaceX Crew-8 mission delayed due to adverse weather; what's next?

As per Nasa's latest communication, the weather remains less than ideal for a planned undocking. Forecasts indicate that conditions may become more favourable later in the week

Boeing's new proposal may lead to $1 bn in wage-related costs over 4 years

About 33,000 workers will vote on the contract proposal after a more than month-long work stoppage, which has halted production of models including its best-selling 737 MAX narrowbody jets

Boeing exploring sale of assets in a bid to boost finances: Report

The planemaker last week reached an agreement to offload a small defense unit that makes surveillance equipment for the U.S. military, the paper reported, citing people familiar with the deal

Boeing presents new proposal before union in hopes of ending strike

Boeing and the union representing striking machinists have negotiated a new contract proposal that would provide bigger pay raises and bonuses in a bid to end a costly walkout that has crippled production of airplanes for more than a month. The International Association of Machinists and Aerospace Workers said early Saturday that it plans to hold a ratification vote on Wednesday. The union said the deal would increase pay by 35 per cent over four years, up from 30 per cent that was offered last month. It also boosts the ratification bonus to USD 7,000 per worker instead of USD 6,000. The new offer would not restore a traditional pension plan a key demand of the 33,000 striking workers but it would increase the amount of contributions to 401(k) retirement plans that Boeing would match and retain performance bonuses that Boeing wanted to eliminate, the union said. The fact the company has put forward an improved proposal is a testament to the resolve and dedication of the frontline

Boeing plans to raise $15 billion through shares, bonds amid strike woes

The company said in regulatory filings that it could raise as much as $25 billion in stock and debt with its investment-grade credit rating at risk

Boeing closes in on plans to raise $15 bn via stock, hybrid bonds

The company on Tuesday said in regulatory filings that it could raise as much as $25 billion in stock and debt with its investment-grade credit rating at risk