Friday, November 22, 2024

Boeing walkout ends as striking workers back 38% pay rise deal

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Boeing has been trying to shore up its finances and end the strike, which has now cost it nearly $10bn, according to consulting firm Anderson Economic Group.

In October, its commercial aircraft business reported operating losses of $4bn for the three months to the end of September.

Last week, the firm launched a share sale to raise more than $20bn.

It came after warnings that a prolonged strike could lead to downgrades of Boeing’s credit rating, which would make it more expensive for it to borrow money.

Last month, the firm said it would lay off around 17,000 workers, with the first redundancy notices expected to be issued in mid-November.

The latest crisis at Boeing erupted in January with a dramatic mid-air blowout of a piece of one of its passenger planes.

Its space business also suffered a reputational hit after its Starliner vessel was forced to return to Earth without carrying astronauts.

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