In the latest round of talks to end the deadlock which is halting production across Boeing facilities in Washington state the OEM has put a new offer to the union which will see wages rise by 38%.
The International Association of Machinists (IAM) union has endorsed the offer the new contract which still falls short of the 40% demanded by workers.
According to The Hill, the new offer sees wages rise 38% over four years and also increases the ratification bonus offer to $12,000, up $5,000 from the previous offer which was rejected.
Boeing has been struggling with the fallout from the strikes which have so far gone on for 7 weeks and has recently seen its credit and investment ratings downgraded making it crucial to the survival of the company that it ends this walkout as soon as possible.
This has been compounded by production problems and delays on its Boeing 737 Max and 787 Dreamliner production lines.
Boeing also recently announced that it has pushed back the entry into service of its newest aircraft, the Boeing 777X, until at least 2026 making the model significantly delayed causing some airlines to rethink purchases.
The cost to Boeing of the industrial action so far has been estimated to be over $9.66 billion.
Workers are expected to vote on the new offer on Monday 4th November.
