OREANDA-NEWS. Boeing [NYSE: BA] tonight thanked its employees represented by the Society of Professional Engineering Employees in Aerospace (SPEEA) following the approval of a six-year contract extension.

"With this new contract in place, we can focus on working together to design and engineer the best airplanes at the right price for our airline customers," said Vice Chairman and Commercial Airplanes President and CEO Ray Conner, who oversaw contract negotiations. "This agreement helps position us for continued success in a highly competitive landscape."

The contract takes effect immediately and extends to October 2022.

"Attracting, retaining and developing the best team and talent, and maintaining respectful, productive relationships with all employee groups is a priority for Boeing," said Boeing President and Chief Executive Officer Dennis Muilenburg. "This agreement recognizes and rewards the contributions of engineers and technical workers who are vital to our continued leadership in aerospace, and it will help ensure Boeing's competitiveness in our second century of business."