With a little more than 24 hours before the deadline set for a potential rail strike, both the leader of the union representing hundreds of engineers and NJ Transit’s CEO expressed optimism Wednesday evening about reaching a deal.

If the engineers do walk off the job, the agency plans to increase bus service, saying it would add “very limited” capacity to existing New York commuter bus routes in close proximity to rail stations and will contract with private carriers to operate bus service from key regional park-and-ride locations during weekday peak periods.

Earlier in the day, their union met with NJ Transit to continue negotiations on a new contract to avoid a possible Friday strike. CBS News New York's Lisa Rozner reports.

The union that represents the engineers who drive New Jersey Transit’s commuter trains has threatened a walkout as soon as Friday if a contract deal is not reached.