Spirit AeroSystems, Workers Union Agree On New Contract Proposal That May End Strike At Wichita Plant
Portfolio Pulse from Nabaparna Bhattacharya
Spirit AeroSystems and the International Association of Machinists and Aerospace Workers have agreed to a four-year contract proposal, potentially ending the strike at the company's plant in Wichita, Kansas. The contract includes a total wage increase of 9.5% in the first year, a guaranteed increase of 23.5% throughout the contract, annual bonuses, and cost of living allowances. The new contract terms also include no mandatory weekend overtime and a sign on bonus of $3,000 cash. SPR shares are trading higher by 1.67% to $29.75 in the premarket session.
June 28, 2023 | 12:32 pm
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POSITIVE IMPACT
The agreement on a new contract proposal between Spirit AeroSystems and the Workers Union may end the strike at the Wichita plant, potentially improving the company's operations and productivity. This news has led to a 1.67% increase in SPR's premarket trading.
The agreement on a new contract proposal between Spirit AeroSystems and the Workers Union may end the ongoing strike at the company's Wichita plant. This could lead to a resumption of normal operations and increased productivity, which is likely to have a positive impact on the company's financial performance. The news has already led to a 1.67% increase in the company's premarket trading, indicating a positive market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100