Boeing Is In BIG NEW TROUBLE And It's Worse than you think! Here's Why

Boeing Is In BIG NEW TROUBLE And It's Worse than you think! Here's Why
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00:00 Intro
00:34 What's happening?
02:55 Reasons
04:54 Effect on Boeing
08:17 Serious issues faced by Boeing
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#fligavia #boeing #airbus #airbus #aviation
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Boeing Is In BIG NEW TROUBLE And It's Worse than you think! Here's Why
Just overnight, on September 12, more than 33,000 Boeing workers staged a MASSIVE strike, sending shockwaves not only through Boeing but also across the entire aviation industry. These workers are crucial to the production of key aircraft, including the highly popular 737 Max. It is more than just a disruption; it will become Boeing's disaster, especially as the company grapples with a series of SEVERSE challenges.
So, why has this CATASTROPHIC event occurred? How will it affect Boeing's operations moving forward? Let's delve into today’s episode!
Boeing Is In BIG NEW TROUBLE And It's Worse than you think! Here's Why
The new CEO of Boeing faces his first challenge. In a vote on a new labor contract on Thursday, a majority of the 33,000 machinists in the Seattle area - members of the International Association of Machinists and Aerospace Workers — who build Boeing's 737, Triple 7, and 767 jets went on strike this morning after rejecting the agreement negotiated by their union leaders. This is the first contract negotiated between Boeing workers and the company in 16 years.
Boeing Is In BIG NEW TROUBLE And It's Worse than you think! Here's Why
The temporary agreement announced on Sunday by the International Association of Machinists and Aerospace Workers and the company includes a 25% wage increase along with other improvements to healthcare and retirement benefits. Why just 25%? This is vastly different from what the workers had hoped for. "I will tell you that we're working every responsible lever to do what's right to conserve cash," CFO Brian West said. "We expect to want to get back to the table and to hammer out a deal."
Boeing also pledged to build its next aircraft in the Seattle area after moving 787 Dreamliner production to a non-union plant in South Carolina. However, some workers indicated they plan to reject the contract and seek a higher wage increase, citing soaring living costs in the Seattle area. Previously, the union, representing about 33,000 Boeing factory workers in the Seattle and Oregon areas, had requested a 40% wage increase. The 25% increase in the temporary agreement would align with the deal reached by the United Auto Workers last year following strikes at Ford, Stellantis, the parent company of General Motors, and Chrysler.