What Happened
CEO Kelly Ortberg Reveals Challenges In Meeting Production Targets
Boeing CEO Kelly Ortberg announced that the company is facing challenges in increasing the production rate of the 737 MAX, with the process taking longer than expected. The current target is to stabilize production at 47 jets per month, with plans to increase to 52 jets per month thereafter. Ortberg also revealed that the certification of the 737-10, the largest variant of the 737 MAX, is expected very soon. The news led to a drop in Boeing’s share price, with the stock down 4.5% for the day. This development was reported by Reuters.