Boeing machinists have voted against a new labor deal offering 35% wage increases over four years, extending a strike that has halted most of the company’s aircraft production for over five weeks. The strike is costing Boeing around $1 billion per month. The company also reported a $6 billion quarterly loss, its largest since 2020. CEO Kelly Ortberg emphasized the importance of resolving the strike to get the company back on track. Boeing’s machinists went on strike after rejecting a tentative agreement with 25% raises, demanding 40% wage increases. This is their first strike since 2008.