33,000 Boeing Machinists Walk Off the Job in Overwhelming Strike Vote, and More
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Boeing Workers Begin Historic Strike After Rejecting Contract Offer
Over 30,000 Boeing workers represented by the International Association of Machinists and Aerospace Workers (IAM) have begun a strike after overwhelmingly rejecting a proposed four-year contract.
The strike, which commenced early Friday morning, marks the first walkout at Boeing since 2008.
Key Points
- 94.6% of participating IAM members voted against the tentative agreement, while 96% endorsed the strike, far surpassing the required two-thirds majority.
- The rejected contract included a 25% raise over four years, a $3,000 ratification bonus, increased 401(k) contributions, and improved healthcare benefits.
- Workers cited concerns over past concessions, including pension losses, and the need to address rising living costs as reasons for rejecting the deal.
- The strike affects approximately 33,000 machinists, primarily in Washington state, and is expected to halt production of Boeing's top-selling commercial aircraft, such as the 737 Max, 777, and 767.
What It Means
A prolonged strike could significantly impact Boeing's financial performance, with estimates suggesting a potential loss of billions in revenue.
The walkout also poses risks to Boeing's supply chain stability and its ability to meet customer demands.
As a major U.S. employer and exporter, the strike's ripple effects may extend beyond Boeing to the broader economy.
Other key Aviation and Aerospace Industry updates for today 👇
Turkey Requests US Approval for GE Aerospace Engines to Power Homegrown Military Aircraft
Turkey has asked the US for permission to acquire GE Aerospace F404 engines for its locally-made Hurjet training aircraft and F110 engines for the Kaan fighter jet project.
This request is crucial for modernizing Turkey's air force and boosting its defense industry. If approved, it would signal improving US-Turkey relations following past tensions over Turkey's purchase of a Russian air defense system
United Airlines To Offer Free Starlink Wi-Fi on All Flights Starting 2025
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This makes United the first major U.S. carrier to implement Starlink at this scale, setting a new industry standard for in-flight internet service.
American Airlines Flight Attendants Ratify Landmark Contract with 20.5% Pay Hike
American Airlines flight attendants overwhelmingly approved a new five-year contract. The deal includes immediate wage increases up to 20.5%, retroactive pay, and industry-first boarding pay.
With 87% of 95% eligible voters in favor, the contract addresses quality-of-life issues and more.
It adds $4.2 billion dollars in pay and benefits for crew members.
AirAsia joins Heart Aerospace's Industry Advisory Board For Electric Aviation
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Southwest Airlines Challenges San Antonio Airport Deal, Threatens Growth Plans Amid Gate Dispute
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Southwest warns it may reassess expansion plans if capacity constraints aren't addressed. Negotiations continue as the airport seeks a resolution.
Menzies Aviation Boosts African Footprint with State-of-the-Art Cargo Facility in Mozambique
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This development follows Menzies' recent partnership with IATA's Focus Africa initiative and aligns with their strategy to grow their cargo business globally.
Aircraft Leasing Giant Avolon to Expand Fleet with $5B Acquisition
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This strategic move will enhance Avolon's earnings and fleet composition while maintaining its investment-grade metrics. The transaction is expected to close in Q1 2025.
SITA Unveils Cybersecurity Solution to Safeguard Aviation Networks
SITA launches Managed Network Access Control (NAC), a cutting-edge cybersecurity solution for airports and airlines.
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The solution integrates with SITA's existing campus network product and employs a zero-trust security model.