Boeing has increased its pay raise offer to striking workers, from 35% to 38% over the next four years, hoping to end the strike. Members of the International Association of Machinists and Aerospace Workers (IAM) union, which has endorsed the offer, will vote on it November 4, reports BBC News.

The trouble aerospace giant has been forced to slow production since a union worker walkout September 13. As well as the proposed pay rise, the latest offer includes a $12,000 bonus for the workers if a deal is reached, up from $7,000.

The union had previously called for a 40% pay increase and workers have rejected two previous offers.

Boeing said the offer would see average annual pay rise to $119,309 over the next four years.

"We encourage all of our employees to learn more about the improved offer and vote on Monday, November 4," Boeing said in a statement.

On October 23, its commercial aircraft business reported operating losses of $4bn for the three months to the end of September, one of the worst financial results in the company's history.

The firm is also moving ahead with plans to lay off around 17,000 workers, starting in mid-November.

The company has struggled with accusations that a drive for profit led to a decline in safety standards.

On October 18, the U.S. Federal Aviation Administration (FAA) said that it will open a three-month review into compliance with safety regulations at Boeing.