Boeing and the union representing placing machinists have negotiated a brand new contract proposal that would supply greater pay raises and bonuses in a bid to finish a pricey walkout that has crippled manufacturing of airplanes for greater than a month.

The Worldwide Affiliation of Machinists and Aerospace Staff stated early Saturday that it plans to carry a ratification vote on Wednesday.

The union stated the deal would enhance pay by 35% over 4 years, up from 30% that was provided final month. It additionally boosts upfront bonuses to $7,000 per employee as a substitute of $6,000.

The brand new supply wouldn’t restore a conventional pension plan — a key demand of the 33,000 placing staff — however it could enhance the quantity of contributions to 401(ok) retirement plans that Boeing would match, the union stated.

“We look ahead to our staff voting on the negotiated proposal,” Boeing stated in a press release.

About 33,000 members of IAM District 751 started a strike on Sept. 14. The strike has halted manufacturing of Boeing 737s together with the 737 Max, and 767s and 777s. Boeing is constant to construct 787 Dreamliners at a nonunion plant in South Carolina.

The strike will not have an effect on business flights however represents one other setback for the aerospace large, whose fame and funds have been battered by manufacturing issues and a number of federal investigations this 12 months.

Earlier this month, Boeing stated it deliberate to chop 10% of its international workforce, or round 17,000 staff, amid the strike that has idled its factories. An S&P World report estimates the corporate is shedding $1 billion a month from the demonstration.