Boeing 737 MAX aircraft in storage at Boeing Field [Credit: AirlineGeeks | William Derrickson]
Key Takeaways:
Boeing has halted all 737 production due to ongoing, costly strikes by 33,000 International Association of Machinists and Aerospace Workers (IAM) members.
The IAM union refused Boeing's "final offer" for a contract, stating it was not negotiated with union representatives and did not adequately address members' concerns.
The strikes are predicted to cause Boeing $3.5 billion in revenue losses by the end of September, primarily due to disruptions in 737 deliveries, prompting the company to furlough workers.
Boeing 737 production ground to a halt on Wednesday as the company continues to be riddled with costly strikes in the Pacific Northwest.
A Fortune report stated that two separate representatives from Boeing confirmed the production stoppage after a Tuesday Bank of America analyst note suggested production of the company’s best-selling jets had come to a “complete halt.”
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Caleb Revill is a journalist, writer and lifelong learner working as a Junior Writer for Firecrown. When he isn't tackling breaking news, Caleb is on the lookout for fascinating feature stories.
