Boeing workers approved a company offer after a strike lasting 53 days. The length of the strike was in line with history, but the compensation package was higher than normal and will exert labor cost pressure throughout the industry. We expect Charleston workers to examine the final collective bargaining agreement with interest.
Boeing can now turn to a long list of issues some of which include:
- Purchasing Spirit, supporting the spinout of some of its operations to Airbus and Bombardier while integrating the balance of the company all the while trying to staunch the cash bleed
- Implementing their corrective actions in response to the FAA’s section 103 report by a panel of experts and other regulatory findings. We believe this will have impacts throughout the industry
- Figuring out how to pay for the richer wages and benefits and less favorable work rules in the new contract
