Shares in Boeing fall in premarket trading in the U.S. after the company’s largest union went on strike. Its stock is down nearly 4% at $156.55 after workers rejected a contract offer that would have raised pay by 25% over four years. In 2008, a 57 day strike over pay negotiations cost Boeing an estimated $100 million a day. The strike comes at a time when the indebted plane manufacturer may require an enormous equity raise to fix its balance sheet, Robert Stallard, equity analyst at Vertical Research Partners, wrote ahead of the vote to strike. In some delivery lines, Boeing has an excess inventory of material and therefore the strike may be a good opportunity to reset supplier deliveries, he adds. Boeing’s Frankfurt listed shares trade down 4% at 141.68 euros.

Boeing’s (BA) labor troubles continued after union rank-and-file on Thursday rejected a tentative contract proposal negotiated by the company and the union leadership and opted to go on strike. The International Association of Machinists and Aerospace Workers said on its website that 94.6% of the 30,000 Boeing workers voted to reject the contract and 96% voted in favor of a labor action. The union said its negotiating team “will regroup and begin planning the next steps on securing an agreement that our membership can approve.” Boeing said in a statement that it was clear the tentative agreement was unacceptable to its workers. “We remain committed to resetting our relationship with our employees and the union, and we are ready to get back to the table to reach a new agreement,” the company said. Shares of the plane maker were down nearly 4.8% in Friday’s premarket activity.

Boeing’s (BA) deliveries and orders declined month over month for August, while the plane maker’s share price was falling in late-afternoon trade. The company delivered 40 jets last month, including 32 737 Max aircraft, down from a total of 43 in July, but up from 35 a year earlier, according to data posted on its website. It booked 22 orders in August, down from 72 the previous month and 45 a year earlier. Boeing shares were falling 2.3% in Tuesday late-afternoon trade. The company’s latest 737 supplier master schedule indicates that Max production will now reach 42 per month in March 2025, compared with a previous estimate of September this year, Reuters reported Monday, citing three industry sources. “We note the (Federal Aviation Administration) production limit on the Max of 38 (per month) remains in place indefinitely as (Boeing), investors, and the aerospace community overall wait for a green light

Boeing and the International Association of Machinists and Aerospace Workers Union have a tentative agreement to avoid a strike at the aircraft maker’s key Washington facilities. That should help the stock on Monday. On Sunday, Boeing announced it had reached a tentative agreement with the union covering some 33,000 workers in the Pacific Northwest, where the company builds 737 MAX and 777 jets. The existing labor contract expires on Sept. 12. Union membership will still have to ratify the new contract. “We have reached a tentative agreement with the union on a historic offer that takes care of you and your family,” said Boeing Commercial Airplanes CEO Stephanie Pope in a video message to employees. “The contract offer provides the largest-ever general wage increase, lower medical cost share to make healthcare more affordable, greater company contributions toward your retirement, and improvements for a better work-life balance.” The tentative agreement includes