FACTBOX: Boeing, union locked in contract negotiations

(Reuters) - Boeing Co (BA.N) hopes it can negotiate a labor contract with its largest labor union, the International Association of Machinists (IAM), ahead of a possible strike on September 4.

If the company fails to reach a deal with the IAM before that deadline, it could lose $3 billion a month in revenue. A strike by the IAM would be its fourth in 20 years against the company.

The union has identified four key issues on its website that must be addressed in the next contract: Pensions for future hires: Boeing has proposed eliminating its defined-benefit pension plan for new hires and replacing it with a defined-contribution plan. * Early-retiree medical coverage for future hires: Boeing has proposed ending its offering of early-retirement medical coverage for future hires. * Outsourcing: Boeing has proposed outsourcing work on facilities maintenance. * Carving Wichita out of the bargaining unit: Boeing has retreated from this objective.

(Reporting by Kyle Peterson; Editing by Gary Hill)