Join 34,000+ Traders & Investors by getting our FREE weekly Sunday Cheat Sheet email. Get key market news and events before everyone else. Click Here to See if you Qualify.
Boeing Co. plans to restore production of its bestselling 737 MAX jet to 52 a month by January 2025 as it the company seeks to fully recover from two deadly crashes and the COVID-19 pandemic that curtailed output, Reuters said, citing two people familiar with the matter. According to an unnamed source, the company has been improving the monthly production of the jet in recent months.
Boeing currently produces about 31 of these jets in a month. According to Reuters, the company declined to comment on the development.
Boeing’s 737 MAX jets were involved in multiple fatal accidents and were grounded for a considerable period before issues were corrected. The renewed push for faster deliveries may also have to do with the growing demand for airlines in a post-covid world.
Related: Warren Buffett Raises Stakes in These 5 Companies
Boeing delivered 130 planes in the first quarter of 2023, narrowly beating Airbus. Sixty-four of the deliveries were made in March. Fifty-two of these quarterly deliveries were of 737 Max jets.
These numbers bode well for the company and indicate that the production levels should improve soon. However, there are still supply chain issues that need to be resolved for the numbers to be achieved. Boeing suffered from a shortage of parts because of fewer trained available. It can be tough to match the demand by training enough workers in time.
Airbus is also ramping up its production as it announced plans to build a new production line in China. The company expects to produce 65 single-aisle jets a month by the end of 2024 before boosting to its ultimate target of 75 a month in 2026.
This Options Discord Chat is The Real Deal
While the internet is scoured with trading chat rooms, many of which even charge upwards of thousands of dollars to join, this smaller options trading discord chatroom is the real deal and actually providing valuable trade setups, education, and community without the noise and spam of the larger more expensive rooms. With a incredibly low-cost monthly fee, Options Trading Club (click here to see their reviews) requires an application to join ensuring that every member is dedicated and serious about taking their trading to the next level. If you are looking for a change in your trading strategies, then click here to apply for a membership.