Boeing announced Sunday it reached a tentative agreement with its labor union that will, if it passes, prevent a disastrous strike for the company that could have halted its commercial aircraft production.

Boeing and about 33,000 union members, most of whom are factory workers, struck a deal that included pay raises and expanded retirement benefits. The company offered 25% pay increases to all employees during the life of their contracts, including lump sum payments as soon as the union agreement is ratified.