Boeing could lose billions in a strike

— -- Boeing could face a revenue drain of $3 billion to $3.5 billion a month and could see its high-profile 787 Dreamliner and two other new aircraft programs delayed if a threatened strike by production workers occurs next week.

To avoid that, the Chicago-based aerospace giant on Thursday made what it calls its "best and final" contract offer to negotiators for the International Association of Machinists and Aerospace Workers union. Boeing also published the details of the contract on its website for the nearly 27,000 IAM members at Boeing facilities in Washington, Oregon and Kansas to read over the long Labor Day holiday weekend.

The union said it plans to issue a recommendation to its members Friday about the 300-page offer.

On Wednesday they will vote on the offer.

If it's rejected by two-thirds or more of those voting, a strike could start the next day.

A strike of more than a week likely would delay once again the first flight of the 787, the world's first commercial jet made mostly of weight-saving composite materials. It promises fuel-cost savings in excess of 20% on long-haul international routes. That's why airlines have ordered nearly 900 Dreamliners despite its $200 million sticker price.

Yet construction problems have caused the Dreamliner's first flight and delivery schedule to be pushed back three times already. The first flight, now scheduled for late this year, is about 18 months behind schedule.

Production and delivery schedules for both the new 777 Freighter and the 747-8 Freighter also could be delayed by a strike.

"The customer-relations angle clearly works against the idea of taking a strike," says Scott Hamilton, a Seattle-based newsletter publisher and analyst who advises airlines and leasing companies on aircraft purchases.