Boeing reached a tentative four-year agreement with the Society of Professional Engineering Employees in Aerospace (SPEEA). The deal covers approximately 17,000 engineers and technical workers. Ratification triggers an immediate 10% wage increase. The contract provides 4% annual raises and merit-based increases. This agreement extends through 2030. The deal averts a potential strike before the October 6 contract expiration.
Separately, the U.S. Air Force awarded Boeing a $13.4 billion ceiling modification for Foreign Military Sales. This action increases the total contract ceiling to $19.1 billion. The expansion facilitates KC-46A Pegasus tanker sales to Japan, Israel, and future allies. No new funds were obligated at the time of the award.
Boeing's stock price rose 2.76% on September 11 following these developments.