Strike could cost Boeing $100m in daily revenue, analysts say

Boeing could lose over $100m in daily revenue until it reaches a settlement with its union that represents more than 30,000 workers, analysts said on Monday. The Seattle-area Boeing workers who build the planemaker's most popular 737 MAX and other jets in factories on the U.S. West Coast went on strike after rejecting their first full contract in 16 years last week. A prolonged strike could cost several billion dollars, fraying the planemaker's already strained finances and threatening a downgrade of its credit rating. The strike, Boeing's first since 2008, is the latest event in a tumultuous year for the company that began with a January incident when a door panel detached from a new 737 MAX jet mid-air. Shares have lost roughly 40% in value so far this year. Northcoast Research estimates the total impact of the strike could reach $3b or more. "Boeing will most likely remove 33-35 jets from the original production plan, resulting in a loss of $102m in daily revenue," said Chris Olin, an analyst at Northcoast Research. New CEO Kelly Ortberg is now confronting a labor-management battle just weeks after he was brought in to restore faith in the planemaker, which is also facing heavy scrutiny from U.S. regulators for its safety practices.<br/>