Boeing, a leading American multinational corporation that specializes in aerospace and defence, faced a labor strike that involved over 3,000 members of the IAM in St. Louis, Missouri. The strike severely impacted the production of military aircraft and commercial jet parts. During this incident, Alaska Air’s stock price rose by 2.03%. However, the reason for the growth of this stock is not yet clearly understood.
Not even a year has passed since the previous strike by commercial jet workers took place. According to the Reuters report, the workers were offered a 20% wage increment alongside a ratification bonus of $5000, which accounts for an overall 40% increment in wage over four years. This deal was rejected by the workers, saying that it was similar to the company’s previous offer.
