Boeing Share Price Slumps as 737 MAX Production Delayed

Boeing CEO Kelly Ortberg said it's taking longer than expected to stabilize production of the 737 MAX at 47 jets per month.

This news caused Boeing's share price to drop around 2.5% immediately after his comments, and ended the day down 4.5%.

The increased output of the popular single-aisle jetliner is crucial for Boeing's financial recovery, which has been hindered by nearly $26 billion in net debt and a damaged reputation.

Ortberg also mentioned that certification of the largest variant of the 737 MAX, the 737-10, will be achieved 'very soon', but this is several years behind schedule. The 737-10 makes up around 30% of all 737 orders.