Boeing Co. ( BA ) shares traded higher Friday as striking employees are expected to vote on a new contract proposal on Monday, Nov. 4. Here’s what you need to know.

What To Know: According to Aviation Daily, the company announced a tentative deal with the International Association of Machinists (IAM), potentially ending a 49-day strike. This union-recommended agreement proposes a 38% wage increase over four years—13% in the first year, followed by 9% in each of the next two years and 7% in the final year.

Additionally, workers would receive a $12,000 ratification bonus and improved 401(k) contributions. Boeing ( BA ) also committed to locating any new aircraft production in the Puget Sound region of Washington, a key concession for the union.

This deal comes after union members previously rejected two offers, including a 35% wage increase in October. The initial union request included a 40% wage increase and pension restorations, but the new deal focuses on wage hikes and bonuses, while pensions remain unchanged. If approved, Boeing ( BA ) expects production facilities to gradually reopen as early as Nov. 6, with full staffing anticipated over the following weeks.

The strike and production delays have impacted Boeing's ( BA ) suppliers, with some, like Spirit AeroSystems, already implementing employee furloughs. Boeing ( BA ) CEO Kelly Ortberg emphasized the importance of a careful restart process, citing ongoing issues with production stability and meeting FAA safety standards.

What Else: Boeing’s rating also remains on S&P’s CreditWatch following a larger-than-anticipated equity issuance, which helps offset projected cash flow deficits through 2025. However, S&P noted Boeing's ( BA ) limited flexibility for further cash flow pressures and cited ongoing strike-related and post-strike operational risks as areas of concern.

BA Price Action: Boeing ( BA ) shares were up 3.5% at $154.59 on Friday, according to Benzinga Pro.

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