Boeing Stock Soared 5% as Strike Temporarily Averted, 787 Cleared for Deliveries

Boeing Stock Soars 5% as Strike Temporarily Averted, 787 Cleared for Deliveries.A strike at three Boeing facilities in the St. Louis area was scheduled to begin Monday, but it's been put off for a few days after the International Association of Machinists and Aerospace Workers received a new contract offer from the aerospace giant.

Boeing's proposed three-year contract offers new workers a lump-sum payment of $8,000 and removes earlier plans to cut company contributions to employees' 401(k) savings plans, The Wall Street Journal reported. Talks were extended through Wednesday, but a strike could begin Thursday if the proposal is rejected.

The roughly 2,500 Boeing workers represented by the International Association of Machinists and Aerospace Workers District 837 rejected a contract offer from Boeing last week.

Meanwhile, the Federal Aviation Administration gave clearance to Boeing to begin deliveries of the 787 Dreamliner after approving the company's plan to correct production problems with the aircraft. Aviation Week was the first to report on the FAA's approval.

People familiar with the matter told the Journal that the first 787 delivery could take place within days. The Dreamliner hasn't been delivered in more than a year after some quality issues were discovered in manufacturing.