The deal includes pay raises of 38% over four years, and ratification and productivity bonuses. Boeing refused to meet a demand to restore a company pension plan.

Summary

Boeing factory workers in Seattle voted to accept a new contract, ending a 53-day strike that halted production of the company’s key airliner.

The deal, approved by 59% of voting union members, includes a 38% wage increase over four years, a $12,000 ratification bonus, and productivity incentives, though it does not restore a previously frozen pension plan.

The strike cost Boeing an estimated $50 million per day, exacerbating financial pressures. Boeing looks to resume production within weeks.