Workers on strike at Boeing for almost two months are set to vote on a new offer to end the dispute, which including a 38% pay rise over the next four years.
The International Association of Machinists and Aerospace Workers (IAM) union, which represents more than 30,000 striking workers, has endorsed the offer and says it will hold a ballot of its members today (Monday).
The walkout started on September 13, leading to a slowdown in production and warnings from airlines over constrained future capacity growth.
More: Boeing strike set to continue after workers reject 35% pay deal
Striking Boeing workers to vote on fresh pay deal
The union had previously called for a 40% pay hike and workers have rejected two previous offers, including a 35% increase.
As well as the proposed pay rise over four year, the fresh offer includes a $12,000 bonus for the workers if a deal is reached, up from $7,000.
The new deal, if ratified by a majority vote, would yield a 43.65% wage increase for the workers currently on strike above their current wages, when compounded over the lifetime of the contract, according to the union.
The offer also includes changes to workers’ retirement plans and pensions.
A joint statement from union leaders Jon Holden and Brandon Bryant said: “The resolve and solidarity of IAM members at Boeing has spurred a new offer from the company that if ratified will enable workers to quickly make up significant ground financially while setting a new standard for the industry on wages and other key protections – including key wins on job security, safety, health care costs, retirement, bonus pay, and more.”
Boeing reportedly said the offer would see average annual pay rise to $119,309 over the next four years.
“We encourage all of our employees to learn more about the improved offer and vote on Monday, November 4,” Boeing said in a statement.