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Boeing strike heading for settlement

 Boeing strike heading for settlement
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Plane maker Boeing and its biggest union have agreed a tentative deal to end a strike at its plants.

The machinists’ union said it had reached a four-year agreement that provides job security for its members and limits on outsourcing of work.

Boeing’s 27,000 assembly workers now have to vote on it.

The breakthrough came at a fourth round of talks and with the help of the US government’s Mediation and Conciliation Service.

The costly stoppage has been going on since early September.

It is the longest strike at Boeing in 13 years and has cost the plane maker an estimated 80 million euros a day.

The total losses are calculated as around 4.2 billion euros.

Once the strike is over, Boeing is expected to give an update on delays to its 787 Dreamliner which is already 16 months behind schedule.

News of the deal came as a major relief to aerospace companies worldwide which supply Boeing, most of which saw their shares rise.