There is no end in sight for the Boeing strikes after a second round of wage talks broke down with no progress, Reuters reported on Friday. Those on strike are looking for a 40% pay rise and the reinstatement of a defined-benefit pension. The aircraft manufacturer made its “best and final” offer last week, which would have given workers a 30% raise over four years and restored a performance bonus. However, the strikers rejected the offer as insufficient.

Where they stand: The International Association of Machinists and Aerospace Workers (IAM) union, which is leading the strike, said they “remain open to talks with the company, either direct or mediated,” in a statement on X. Boeing also remains “prepared to meet at any time” and dedicated to “reach an agreement as soon as possible,” a spokesperson for the company told the newswire in an email.

ICYMI- Boeing started implementing a hiring freeze and considered furloughs earlier this month, as the aviation giant scrambled to cut costs of the 30k strong worker strike. The strike is taking place at Boeing’s 737 Max Jets production hub. This is worsening the company’s already existing supply chain issues and delivery delays, pushing it to stop issuing purchase orders for the 737, 767, and 777 jets to preserve its credit rating.

Airbus deliveries stalled in September rising at a slower pace than a year ago, Reuters reported on Thursday. The planemaker delivered some 30 aircrafts, down from 55 jets last year, bringing the total so far this year to 477. Sluggish delivery rates are causing concern that the planemaker will not be able to hit its revised annual target, which was lowered to 770 aircrafts from 800 in July. The manufacturer has blamed shortages of engines and other parts for lags in deliveries.

Russia eyes new grain markets: Russia is looking to expand its Baltic Sea ports as it aims to boost agricultural exports by 50% by 2030 and reduce its dependence on traditional Black Sea routes, Reuters reported on Thursday. Russia, which plans to tap new markets in Latin America and Africa, has built two major ports in the past 18 months — Vysotsky and Lugaport — that will be able to handle up to 15 mn tons of agricultural export per year.

OTHER STORIES WORTH KNOWING THIS MORNING-

  • Montreal port strike to slow operations: The port of Montreal will face an operational slowdown, the port said after a notice was issued by a union for a three-day strike. The strike is due to start today at 7 am (11:00 GMT) on Monday at two terminals that account for 41% of the port’s container traffic. (Reuters)
  • Australia's Qantas flights on schedule despite strikes: Australia's flag carrier Qantas Airways is keeping its flight schedules unchanged despite rolling strikes by aircraft maintenance engineers. (Reuters)
  • Aerolineas Argentinas on the road to privatization: Argentina's President Javier Milei is set to issue a decree next week to privatize flag carrier Aerolineas Argentinas. (Reuters)
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