Boeing engineers and technical workers represented by the Society of Professional Engineering Employees in Aerospace (SPEEA) yesterday voted to approve a pair of new four-year contracts.
Dow Jones Industrial Average
Boeing has revealed just how dominant the Middle East is in its executive aircraft order book. If the fact that 33 percent of Boeing’s total orders is emanating from the region is not impressive enough, how about the U.S.
World financial markets continued their downward slide yesterday amid fresh worries that declining corporate earnings could further soften the used jet market and adversely impact future deliveries of new business airplanes.
As if there hasn’t already been enough bad financial news, reports from UBS Investment Research and JPMorgan indicate that pre-owned business jet inventories continued to increase in August, leading both firms to warn that deliveries of new aircraft could fall as a result.
The Society of Professional Engineering Employees in Aerospace (SPEEA) has publicly called on Boeing to “face the fact that the global network is a failure and bring the critical work back so the experienced employees can get the 787 back on track.”
Boeing today presented what it called its best and final contract offer to its approximately 27,000 employees represented by the International Association of Machinists and Aerospace Workers in Washington, Oregon and Kansas. The offer includes an 11-percent pay increase, cost-of-living adjustments and pension increase of $80 per month per year of service.
Boeing will resume flight-testing of its Model 777F cargo aircraft “as soon as possible,” the manufacturer said after the freighter’s first flight on Monday was curtailed by problems unrelated to aircraft performance.
Off the back of its 2001 contract to modernize the U.S. Air Force’s C-130, Boeing is offering its avionics modernization program (AMP) as a scalable architecture kit to extend the service life of the ubiquitous military transport. According to the company, more than 700 aging C-130s that could benefit from the upgrade are still in service.
Last month, bidders submitted proposals for the U.S. joint air-to-ground missile (JAGM) and they now await a contract award for a 27-month risk-reduction phase. That announcement is expected in August or September, with two teams being selected to demonstrate their technologies, including live-firing.
When Boeing rolled out its new ATC management system last summer, a satellite-based arrangement that takes a significantly different direction from the FAA’s solution, the aerospace giant offered few concrete details on how its plan would work.