Boeing Co. (NYSE: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 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 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 suppliers, with some, like Spirit AeroSystems, already implementing employee furloughs. Boeing 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 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 shares were up 3.5% at $154.59 on Friday, according to Benzinga Pro.

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