On Friday, Boeing finalized a new collective bargaining agreement covering approximately 1,600 salaried engineers and administrative employees who were part of Spirit AeroSystems before Boeing’s December reacquisition of the division. The multi-year contract provides annual wage increases averaging 3.5%, enhanced retirement plan contributions and improved healthcare benefits. Union leadership highlighted that the agreement ensures stability for key design and stress‐analysis teams working on the 787 program and the 777X wingbox integration, reducing the risk of work stoppages at Boeing’s Wichita and Seattle design centers.

Boeing is targeting 38 monthly 737 MAX deliveries but has been averaging only 20 to 25 jets per month, creating a production gap that translates into roughly $715 million of deferred revenue each month and about $8.5 billion over a full year. With more than 4,000 undelivered aircraft on backlog and an average discounted sales price of $55 million per jet, the shortfall continues to weigh on cash flow. Though the company recorded its first annual profit since 2018—driven largely by a $9.6 billion asset sale—the persistently low delivery rate signals that supply-chain bottlenecks, regulatory hurdles and integration issues from the Spirit AeroSystems acquisition have yet to be fully resolved.

In recent weeks, Boeing secured four additional MH-139A Grey Wolf helicopters for the U.S. Air Force, bringing its total award value for the program to $262 million and the total number of aircraft under contract to 38. The Air Force has already taken delivery of 21 units. Simultaneously, Boeing expanded its commercial backlog in India with an order for 30 more fuel-efficient 737 MAX jets from Air India, lifting that carrier’s commitment to nearly 200 Boeing single-aisle and widebody aircraft. These wins helped support fourth-quarter revenue of $23.948 billion—beating consensus estimates of $22.470 billion—while plane deliveries rose to 160 units for the quarter.