The Boeing Company and the International Association of Machinists and Aerospace Workers union agreed to a new contract to officially end the 7-week strike.

W hile the strike by more than 33,000 Boeing machinists - represented by the International Association of Machinists and Aerospace Workers (IAM) District Lodge 751 and District W2

If Boeing machinists vote down the company's pay offer for a third time it could drive Boeing deeper into financial uncertainty.

The union representing tens of thousands of striking Boeing machinists has endorsed the U.S. aerospace company's latest contract proposal.

SEATTLE (AP) — Unionized machinists at Boeing voted Monday to accept a contract offer and end their strike after more than seven weeks, clearing the way for the aerospace giant to resume production of its bestselling airliner and generate much-needed cash.

Unionized factory workers at Boeing are voting on Monday whether to accept a contract offer or to continue their strike. The walkout has lasted more than seven weeks, shut down production of most Boeing passenger planes and cut off a key source of cash for the company.

Approval of the deal with 38 percent raises over four years is a key step toward recovery after Boeing suffered billions in losses from the work stoppages and safety problems.

Boeing machinists have ended their weeks-long strike, amid signs that the work stoppage had begun denting U.S. jobs numbers — and just a day before the country votes for its next president. After rejecting a previous contract offer,

The contract promises a 38% pay increase over four years and an increased 401(k) match. The striking workers rejected two previous contract offers.