Boeing has presented its "best and final offer" to the machinists union in an attempt to end a strike that has already cost the company nearly half a billion dollars.

Over 33,000 Boeing machinists represented by IAM District 751 have been on strike for over a week now, halting production on many of the company's jets - including its most profitable model, the 737 Max.

Machinists were in search of a 40% raise over the contract period, reinstatement of a pension plan that the company scrapped in 2014, better healthcare options and increased job security. They voted down the initial contract offer from the company by 94%, with 96% of members then voting to strike.

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