Boeing takes off on a 52-week high with China deliveries back on and a plan to boost 737 production
It’s spent a long time taxiing, but Boeing appears on the road to recovery from its disastrous 2024.
Shares of the plane maker climbed to a 52-week high of $212 intraday Thursday following comments made by CEO Kelly Ortberg at a Bernstein conference. The last time the stock closed above that figure was January 22, 2024, on the way down following its door plug blowout fiasco.
According to Ortberg, China has said it will begin accepting Boeing deliveries again starting next month following an April halt caused by, you know, the trade war.
Ortberg said that Boeing plans to boost production of its 737 Max jet to up to 42 per month in the next few months, and up to 47 per month by the end of the year. The FAA currently caps 737 Max production to 38 per month, so anything beyond that would require approval.
Despite being seemingly leapfrogged for Air Force One plans, Boeing has been boosted in the past several weeks by the Trump administration. Multibillion-dollar Boeing jet orders have been announced as part of trade deals with Qatar and the UK, and the DOJ last week said it reached an agreement with the company to drop a criminal case against it regarding fatal 737 Max crashes.
