Boeing machinists may end their strike with a new proposal that includes 35% raises.

• Boeing and its machinists' union have reached a new contract proposal.
• The strike, which has lasted more than a month and hindered the manufacturers' production, could be resolved through a deal.
• The new proposal offers a 35% wage increase over four years, a $7,000 signing bonus, annual guaranteed minimum payouts, and higher 401(k) contributions.

The aircraft manufacturers' union has presented a new contract proposal, which could end the month-long strike that has affected their aircraft production, the union announced on Saturday.

The ratification vote is set for Wednesday.

The new proposal offers a 35% wage increase over four years, a $7,000 signing bonus, annual guaranteed minimum payouts, and higher 401(k) contributions, among other changes.

The International Association of Machinists and Aerospace Workers District 751 announced that with the help of Acting U.S. Secretary of Labor Julie Su, they have received a negotiated proposal and resolution to end the strike, which they recommend presenting to their members for consideration.

More than 30,000 machinists rejected a tentative agreement with Boeing on Sept. 13, which included 25% wage increases over four years. Despite Boeing's sweetened offer, the union criticized it as not being negotiated.

Boeing stated that it is eager to have its employees vote on the agreed-upon proposal.

Boeing is striving to halt financial losses due to a safety issue resulting from a door plug explosion on a 737 Max and difficulties in other projects.

Boeing's new CEO, Kelly Ortberg, will achieve a victory on Wednesday when the company reports full results and ratifies a contract, which includes charges of about $5 billion in its commercial and defense units.

Boeing announced on Oct. 11 that it would cut 10% of its workforce and cease production of 767s once orders are fulfilled in 2027.