Workers at Boeing vote on a new contract that will end their seven-week strike

They agreed on a new contract Monday, ending a seven-week strike.

On Monday, Boeing workers on the US West Coast will vote on a better contract deal. If approved, the strike could end after seven weeks and jet production at the troubled aerospace company can resume.

Boeing’s new plan includes a 38% pay raise over four years. This is better than the 35% raise that about two-thirds of the 33,000 machinists who voted 12 days ago turned down, as it was too high.

This is Boeing’s fourth offer since the strike started on September 13. It comes at a very important time for the company, which just announced a $24 billion share offering to get its finances back on track after the 737 MAX jet production stopped.

Following the offer, the International Association of Machinists and Aerospace Workers said on Sunday that workers could go back to work as early as Wednesday, with the latest date being November 12. But it’s still not clear how quickly Boeing can get back to production levels before the strike. The delay could mean that the goal of 38 jets per month by the end of the year has to be pushed back to 2025.

Boeing doesn’t usually release monthly MAX production numbers, but CFO Brian West said that monthly production had gone from being in the high single digits at the end of the first quarter to being around 25 in June and July.

An analyst note from Jefferies says that the planned 38% wage increase will add about $1.1 billion to the workers’ cost base, which is already about $2.5 billion over the four-year contract. President of the union’s District 751, Jon Holden, has backed the latest deal and warned that rejecting it could lead to a worse offer from Boeing.

By noon, Boeing’s shares had gone up 0.4%, hitting $155.27. This was the second rise in a week, as investors thought the workers would agree to the deal.

The polls will close at 7 p.m. US Pacific Time (0300 GMT), and the findings should be out soon after. Reuters talked to factory workers about the new contract, and they had mixed feelings about it. Some were excited to go back to work, while others were holding out for more perks and the 40% wage increase that they had originally asked for.

A “yes” vote would be a big relief for Boeing CEO Kelly Ortberg, who took over in August promising to improve relations with factory workers and start a “fundamental culture change” within the business. Boeing has been in a lot of trouble since January, when a door panel on a nearly new 737 MAX plane blew off in the air, forcing Ortberg’s boss, Dave Calhoun, to leave his job. The strike has also stopped production of Boeing’s 767 and 777 widebody planes. Ending the strike would help aerospace suppliers who have to lay off workers and airlines who are waiting longer for planes to arrive.