06:31:03 EDT Mon 29 Apr 2024
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Boeing CDR (CAD Hedged)
Symbol BA
Shares Issued 350,000
Close 2024-03-18 C$ 31.54
Market Cap C$ 11,039,000
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Globe says Boeing sees A220 workers also demanding more

2024-03-18 07:21 ET - In the News

The Globe and Mail reports in its Monday edition that Canadian Airbus A220 production workers will initiate pressure tactics on Monday to slow jet production after voting on Sunday to reject a proposed contract and give strike authorization. A Reuters dispatch to The Globe says that around 99 per cent of the estimated 1,000 members represented by the International Association of Machinists and Aerospace Workers who voted rejected the contract, and gave authorization, said IAMAW's Eric Rancourt. While the authorization mandate does not equate to an actual strike, the vote signals discontent among the estimated 1,300 Montreal-area workers who produce Airbus's smallest commercial jet in Mirabel, Que. Union plans to return to bargaining on Monday will coincide with the start of pressure tactics to slow production. The negotiations have raised labour tensions at a time when Airbus is trying to increase production while lowering the cost of its money-losing A220 jet. A second assembly line in Mobile, Ala., also produces the A220. The union's contract expired in December. Production workers at competitor Boeing's Washington State operations have called for wage increases exceeding 40 per cent over three to four years.

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