What Happened
Aerospace Giant Increases Output After FAA Consultation
Boeing is increasing production of its 737 jet to 47 aircraft per month, up from 42, after consulting with the Federal Aviation Administration. The company aims to further boost output to 52 jets a month early next year. Boeing’s CEO, Kelly Ortberg, expressed confidence in the production ramp-up, citing strong demand for the aircraft. The production increase is part of Boeing’s efforts to recover from years of losses, and the company’s shares rose about 4% in morning trading on the news, as reported by Reuters.