06:03 AM EDT, 09/09/2024 (MT Newswires) -- Boeing ( BA ) said Sunday it has reached a tentative agreement on a contract with the International Aerospace Machinists union districts 751 and W24, representing more than 33,000 of its employees.

Boeing Commercial Airplanes President and Chief Executive Stephanie Pope said in a message to employees that the offer provides them their "largest-ever" wage increases, lowers medical cost share, and increases company retirement contributions.

As part of the contract, the company's Seattle-area workers will build its next airplane, the company said.

IAM District 751 said in a statement that the proposal was "the best contract we've negotiated in our history."

Union members are to vote Thursday on the proposed contract.

Shares of the airplane maker were up more than 4% in Monday's premarket activity.

Price: 165.10, Change: +7.48, Percent Change: +4.75