On Saturday, Boeing stocks surged as a new wage offer, which could potentially end the strike, underlined a tentative deal.

The company’s stock price ascended by 3.54% to $154.59 per piece on November 02’s Asian afternoon session. More importantly, it is expected to climb by 0.19% to $154.88 a share in the after-hours trading.

In line with this, Boeing started to rally as investors and traders forecast that the proposed agreement will wrap the issue up.

Additionally, the manufacturer increased its salary offer to 38.00% throughout a four-year contract. Correspondingly, this is a notable growth from the previous 35.00% pay hike, which the machinists rejected.

Boeing also integrated a $5,000.00 lump sum compensation into the earlier $7,000.00 ratification bonus. The latest agreement makes up an overall 12K into 401(k) plans or as a cash settlement.

However, the newest deal still comes up short by 2.00% in terms of the salary demand by the workers on strike. Likewise, it did not bring back a defined-benefit pension requested by the machinists.

Subsequently, Boeing employees are divided as others look to accept the offer, while some are determined to push the 40.00% increase.

Meanwhile, Chief Executive Officer Kelly Ortberg encouraged them to agree already and focus on rebuilding the business.

IAM Set to Vote on Fresh Wage Deal from Boeing

The International Association of Machinists and Aerospace Workers (IAM) will vote to accept or reject the latest pay offer from Boeing. Based on reports, the holding of the ballot could conclude the seven weeks of strike movement.

According to S&P Global Ratings Aerospace Director Ben Tsocanos, the proposal is very much in favor of the union.

Moreover, IAM expressed that it wouldn’t want to force its members to prolong the strike, implying approval of the deal. The organization added that they may risk a regressive bargain from Boeing in the future if they do not accept already.