The Latest Breaking News from Boeing

Joe Biden congratulates company and union for reaching a deal, after direct mediation by the White House

Boeing has substantially underperformed the broader market over the past year, and analysts remain cautiously bullish on the stock’s prospects.

Striking workers at Boeing approved a new contract proposal on Monday, ending a more than seven-week stoppage that had cost the beleaguered aviation giant billions.

The new offer includes an immediate 13% raise, followed by 9% hikes in each of the next two years, and a 7% increase in the fourth and final year of the contract, resulting in a total pay increase of over 43%. Additionally, workers will also receive a $12,000 ratification bonus.