Boeing reaches deal with union, potentially avoiding strike (NYSE:BA)

Boeing (NYSE:BA) said it reached a deal with union leaders, potentially averting a strike that would halt major parts of its factory operations.

The union said the agreement includes substantial raises and job security for workers who assemble commercial planes in Puget Sound and Portland in the Pacific Northwest.

Management and the union reached a deal after a lengthy bargaining session. A strike vote is pending on Sept. 12 for a contract that expires at midnight.

It’s still too early to know if workers represented by the union, the International Association of Machinists and Aerospace Workers, will support the agreement.