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Analyst Says Boeing’s New Machinists’ Contract ‘Watershed Event’

By Cal Biesecker

Monday, January 6th, 2014

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Analyst Says Boeing’s New Machinists’ Contract ‘Watershed Event’

Boeing 777X aircraft. Photo: Boeing

Approval of a new contract by an aerospace workers union that will allow Boeing [BA] to build its new 777X passenger plane in Seattle will save the company hundreds of millions of dollars annually and thereby improve its long-term competitiveness, Jefferies aerospace and defense analyst Howard Rubel says in a note to clients today. The eight-year contract extension by members of the International Association of Machinists & Aerospace Workers District 751 on Saturday was a “watershed event” for Boeing, Rubel…

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