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Boeing to lose big money due to strike
Pakistan News.Net
Saturday 6th September, 2008
Aerospace company Boeing is likely to experience further delays on its 787 Dreamliner program.
The company now faces billions of dollars in lost revenues from a strike by its largest union.
On Saturday, production came to a halt after talks failed between Machinists union Local 751 and Boeing executives.
More than 80 percent of workers backed the union leadership by rejecting a new contract and supporting a strike.
It has been estimated that Boeing could lose US$2 billion to US$3 billion for every month the union is on strike.
But Boeing will not have to pay penalties to airlines for delays in delivery of the new Dreamliner because the company’s sales contracts are said to have a clause that excludes penalties due to strike.
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