Boeing and the union representing striking machinists have negotiated a new contract proposal that includes wage increases and bigger bonuses, aiming to end a costly walkout that paralyzed aircraft production for more than a month .

The International Association of Machinists and Aerospace Workers announced Saturday morning that it plans to hold a ratification vote on Wednesday.

The union said the deal would increase wages by 35% over four years, up from 30% proposed last month. It also increases initial bonuses to $7,000 per worker from $6,000.

The new offer would not restore a traditional pension plan — a key demand of the 33,000 strikers — but it would increase the amount of contributions to 401(k) retirement plans that Boeing would match, the union said.

“We look forward to our employees voting on the negotiated proposal,” Boeing said in a statement.

Approximately 33,000 members of IAM District 751 began a strike on September 14. The strike halted production of Boeing 737s, including the 737 Max, as well as the 767 and 777. Boeing continues to build 787 Dreamliners at a non-union factory in South Carolina.

The strike will not affect commercial flights But it represents another setback for the aerospace giant, whose reputation and finances have been battered by manufacturing problems and multiple federal investigations this year.

Earlier this month, Boeing announced plans to cut 10% of its global workforce, or about 17,000 employees, amid a strike that has idled its factories. A report from S&P Global estimates that the company is losing $1 billion per month because of the protest.