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the impact of boeing's strike involving more than 30,000 people is spilling over.

ryanair group chief executive michael o'leary said a prolonged strike by boeing workers could reduce the number of aircraft the airline will receive by next summer to 20 from a projected 25.

o'leary said that if the strike lasted three to four weeks, ryanair might only be able to take delivery of 20 aircraft. "there is no doubt that boeing will resolve this strike," o'leary said, "which may take weeks."

this is the first major strike at boeing in the past 16 years. the strike has such a wide impact that it may hit the us economy, and international rating agencies have urgently downgraded boeing's rating.

33,000 people on strike

according to media reports, boeing employees were dissatisfied with the latest labor agreement, and about 33,000 workers at assembly plants in seattle and portland voted to go on strike.

the united machinists and aerospace workers international union said union members from boeing voted overwhelmingly to reject a four-year labor contract with the company.

on september 8, boeing reached a preliminary agreement with the union leader. boeing said the agreement stipulates that within a four-year period, employee wages will increase by a total of 25%, while reducing workers' medical insurance costs and increasing vacation time. however, many members insisted on a 40% pay increase.

it is reported that the strike will officially begin at midnight local time on september 14. the two assembly plants mainly produce boeing 737 max, boeing 767 and boeing 777.

cnn reported on the 13th that the strike will basically halt boeing's commercial aircraft production and may impact the u.s. economy. if the strike lasts for a long time, nearly 10,000 boeing suppliers in almost all 50 states in the united states may encounter problems.

rating downgrade

boeing currently employs approximately 150,000 american employees, contributes an estimated $79 billion to the u.s. economy annually, and directly or indirectly supports 1.6 million jobs.

according to reuters, a strike by boeing employees in 2008 shut down factories for 52 days, costing the company $100 million in revenue per day.

the impact this time may be even greater, as boeing has not achieved annual profits since 2018, and its stock price has fallen by more than 60% in the past five years.

as of september 13, beijing time, boeing employees participating in the strike have not announced the specific duration of the strike.

affected by this, boeing’s us stocks fell by more than 3% on september 13.

standard & poor's global said that if the strike is not ended in the short term, it could delay boeing's performance recovery and hurt its credit rating. standard & poor's and another rating agency moody's currently give boeing a credit rating slightly above junk level.

on september 15, moody's put boeing's rating on negative watch. moody's said that if the iam (international union of machinists and aerospace workers) strike continues and boeing's liquidity is significantly reduced, the rating may be downgraded.

international rating agency fitch said that if boeing employees extend the strike, it will bring the risk of boeing's credit rating downgrade and affect the company's operations and financial condition. fitch also said that if the current strike can be ended within two weeks, it will not put much pressure on the rating.