Boeing and IAM agree tentative three-year contract

Airline Industry Information, Sept 26, 2005

AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD

The Boeing Company (NYSE: BA), an aircraft manufacturer, confirmed on Sunday (26 September) that it has reached a tentative agreement for a new three-year contract with the International Association of Machinists and Aerospace Workers (IAM).

IAM represents approximately 19,000 Boeing employees in the Seattle area, Wichita, Kan., and Portland, Ore.

A ratification by the members of AIM for the contract will end the strike that began on 2 September 2005, and is being recommended by the union leadership according to the company.

Boeing said that the new agreement supports its business plan and addresses the key issues raised by IAM-represented employees and the union. The cost of this new agreement to the company is similar to the previous contract with IAM and is reasonable, a Boeing spokesman said.

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