Market Overview

Boeing Statement on IAM Voting Down Contract Extension

Boeing Commercial Airplanes (NYSE: BA) has issued a statement from President and CEO Ray Conner after a long-term contract extension was voted down by the International Association of Machinists & Aerospace Workers District 751.

"We are very disappointed in the outcome of the union vote. Our goal was two-fold: to enable the 777X and its new composite wing to be produced in Puget Sound and to create a competitive structure to ensure that we continue market-leading pay, health care and retirement benefits while preserving jobs and our industrial base here in the region. But without the terms of this contract extension, we're left with no choice but to open the process competitively and pursue all options for the 777X.

I'd like to thank Governor Jay Inslee and the Washington state legislature for all their efforts in this process. We had hoped for a different outcome."

Contact: Doug AlderBoeing Communications206-544-1814doug.alder-jr@boeing.com
SOURCE Boeing

See full press release

Posted-In: News Guidance Contracts Buybacks Management Global

 

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