Boeing Boosts 737 Max Production Amid Market Recovery
Boeing is ramping up production of its 737 Max jets after receiving clearance from the Federal Aviation Administration (FAA) to produce 47 aircraft per month. This is a significant increase from the current rate of 42 units monthly, and CEO Kelly Ortberg expects to reach this new level within the next few months.
Ortberg stated that the company has already started operating production lines at the higher rate and is confident in its safety and quality systems. Boeing had previously reduced output to 38 aircraft per month following a mid-air incident involving a door panel in January 2024, which exposed manufacturing and quality-control issues.
The company ultimately hopes to raise production to 63 aircraft per month, with Ortberg citing the market's ability to support higher rates as a key factor in this goal. Boeing recently secured a commitment for 200 aircraft from China, a development that Ortberg described as 'a good start' in reopening the Chinese market to its narrowbody airplanes.
Boeing shares have gained around 2.4% so far this year, and retail sentiment on Stocktwits has remained bearish over the past 24 hours, with some users expressing frustration over the stock's inability to hold a key level.