Jet engine maker Pratt & Whitney has reached a tentative agreement with the union representing about 3,000 machinists who’ve been on strike since May 4 of this year.
The machinists had been demanding improved job security and better wages, as well as bulked up retirement benefits and enhanced healthcare coverage.
Pratt & Whitney is a subsidiary of RTX Corp. (RTX), formerly known as Raytheon Technologies.
Pratt & Whitney makes engines for commercial and military aircraft, including the U.S. military’s F-35 stealth fighter.
Members of the International Association of Machinists and Aerospace Workers are scheduled to vote on the contract from Pratt & Whitney today (May 27).
The company said the tentative agreement addresses “key points of interest among union members.” Details of the proposed contract have not been made public.
Union members began picketing at Pratt & Whitney’s manufacturing locations in Connecticut after 77% of nearly 2,100 union members voted in favor of their first strike since 2001.
The strike arrived as Pratt & Whitney’s parent company RTX faces a potential $850 million U.S. hit to its profits this year because of tariffs imposed by U.S. President Donald Trump.
During RTX’s first-quarter earnings call, management said that its Pratt & Whitney and Collins Aerospace subsidiaries would each shoulder just over $400 million U.S. of the potential tariff hit.
RTX’s stock has risen 14% this year to trade at $132.35 U.S. per share.
