Boeing Faces Potential Setback Amid Worker Strike Concerns

2 min read | September 12, 2024 05:03 PM PDT | By Team Kalkine Media

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Boeing Faces Potential Setback Amid Worker Strike Concerns — Image source: Shutterstock

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Headlines

Boeing's recovery could be delayed if an extended worker strike occurs, impacting its overall rating.
U.S. West Coast factory workers are currently voting on a contentious new contract, which could escalate into a strike.
A strike could challenge Boeing’s goal of increasing MAX jet production to 38 planes per month by year-end.

S&P Global Ratings highlighted on Thursday that an extended worker strike could impact Boeing's (NYSE:BA) recovery and affect its overall rating. The company’s U.S. West Coast factory workers have begun voting on a new contract that has faced significant criticism. This development adds pressure to Boeing, which is already dealing with production delays and substantial debt.

The potential for a strike, starting Friday, poses an early challenge for Boeing’s recently appointed CEO, Kelly Ortberg. Ortberg was hired last month to rebuild confidence in the company following a serious incident involving a 737 MAX jet earlier in the year.

Ben Tsocanos, aerospace director at S&P Global Ratings, mentioned that a brief strike, similar to the situation with Spirit Aero last summer, might be manageable for the company and its rating. However, a prolonged strike could impact Boeing’s ability to meet its target of increasing MAX jet production to 38 planes per month by the end of the year.

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