Boeing Struggles to Meet Production Targets Amid Engine Shortages

Boeing CEO Kelly Ortberg stated that stabilizing the production rate of its 737 MAX jetliner at 47 aircraft per month is taking longer than anticipated. The company aims to increase output to 52 jets a month by next year, but faces challenges in producing wings quickly enough to meet this target.

The largest variant of the 737 MAX, the 737-10, will be certified 'very soon,' according to Ortberg, which makes up about 30% of all 737 orders. However, production is being hindered by engine shortages and slow certification of premium seats for the 787 Dreamliner.

Boeing's share price dropped around 2.25% immediately after Ortberg's comments and closed down 4% for the day. The company has been working to recover from years of crises, which have left it with nearly $26 billion in net debt.