Boeing Stock Struck Down by Union Vote Amid Certification Crunch

Boeing's stock is facing a potential strike threat from its largest white-collar union, SPEEA, after 64% of engineers and about 72% of technicians voted down a four-year contract offer on August 21. This vote gives the union authority to call a strike once the current agreement expires October 6. A work stoppage would sit directly across Boeing's certification path for its 737 MAX 10 and 777-9, both programs already running years behind schedule.

The labor dispute is not the only challenge facing Boeing stock. On August 24, the Department of War awarded Boeing a $131.23 billion sole-source IDIQ contract for the F-15 Eagle Crest program, covering production, systems integration, upgrades, and sustainment for the F-15 fleet through August 2037.

Boeing's CEO Kelly Ortberg had expressed hope that the negotiations would lead to an agreement before the strike vote. However, Vice president Ben Nimmergut stated that the company is 'implementing our strike contingency plan' in response to the union's decision.