Boeing Machinists Go On Strike

Boeing’s (BA) machinist unions, which is responsible for the company’s aircraft assembly employees, have gone on strike over the weekend, after emergency talks to stave of a strike following the union’s vote to reject an employment contract that Boeing (BA) offered, failed.

The strike, which could cause Boeing almost a hundred million dollars a day, will halt production on Boeing’s 737, 747, 767 and 777 planes. The strike will also cause further delays to the company’s 787 Dreamliner on which Boeing is banking on and possibly delay Boeing’s (BA) planned first test flight of the aircraft later this year.

Analysts are estimating that if the stike lasts a month it would cost Boeing (BA) $2.8 billion in sales and an EPS loss of $0.31.

Tag: Boeing strike