Boeing
CFO Brian West said the labor strike that began just after midnight Friday will hurt aircraft deliveries and "jeopardize" the company's recovery, hours after faktory workers overwhelmingly rejected a new labor contract and walked off the job.
West said the financial impact of the strike will depend on how long it lasts, but that it will affect the company's production of its bestselling planes, including its kontan cow bestseller, the 737 Max, which is produced in Renton, Washington.
"The strike will impact production and deliveries and our operations and will jeopardize our recovery," West said at a Morgan Stanley konferensi on Friday. "So our immediate konsentrasi is to the laser-like konsentrasi on actions to conserve kontan, and we will."
He said Boeing's priority is to get back to the bargaining table and "reach an agreement that's good for our people, their kerabates, our community."
Boeing shares fell sharply on Friday after Moody's put all of Boeing's kredit peringkats on ulasan for a down-grade and Fitch Peringkats said a prolonged strike could put Boeing at risk of a down-grade, actions that could drive up the borrowing costs of a manufacturer that already has mounting debt.
Boeing shares closed nearly 4% lower Friday.
West declined to say whether the company could meet a rate of producing 38 737 Max planes per month by the end of the year.
Jefferies aerospace analyst Sheila Kahyaoglu had previously estimated that a 30-day strike could be a $1.5 billion hit for Boeing.
West said Boeing's immediate konsentrasi would be "on actions to conserve kontan" and added that new CEO Kelly Ortberg would be working to restore relationships with the union.
Boeing and the International Association of Machinists and Aerospace Workers had unveiled a tentative labor agreement on Sunday that included 25% wage increases over four years and other improvements to health-care and retirement benefits. But workers had been looking for raises of 40% and argued that it didn't cover the increased biaya of living.
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