Boeing Company (NYSE:BA) is reportedly gearing up to elevate the production of its renowned 737 narrowbody aircraft to unprecedented levels by mid-2025, a move reflecting the surge in orders and the firm's rebound post the 737 MAX crisis.
This aspiration reinstates Boeing's earlier goal, which was interrupted in 2019 due to the global grounding of the MAX following two tragic accidents, reported Reuters.
Both Boeing and its European counterpart Airbus SE (OTC:EADSY) are setting aggressive production agendas.
With the resurgence of air travel and a spike in aircraft purchases, Airbus is churning out popular single-aisle planes even more rapidly than its American rival.
Boeing laid out the plan in the latest version of its master schedule for suppliers, which was reaffirmed in mid-September, Reuters reported, citing its sources. The report noted that the schedule targets 737 production to reach 42 jets a month by December 2023.
This target aligns with prior claims made by Stan Deal, the head of Boeing Commercial Airplanes, in an interview with Bloomberg TV earlier this year.
Following the aforementioned projection, the monthly production of the 737 series (encompassing the 737 MAX and its predecessors used in military operations) aims to escalate to 47.2 jets by June 2024, 52.5 jets by December 2024, eventually settling at an output of 57.7 aircraft each month by July 2025.
Prior to the 2019 suspension of the 737 MAX, Boeing was on track with a production rate of 52 737s monthly, inching towards the 57 mark. However, the company's formal production objective, presented in November of the previous year, was set at 50 jets monthly for the duration of 2025-2026.
Dave Calhoun, Boeing's CEO, reportedly hinted at a potential hike to 60 jets monthly, particularly as the company secures substantial orders, including a recent deal with Air India for nearly 200 MAXs.
The CEO said the latter half of 2024 will be a pivotal period for Boeing to demonstrate its ability to stabilize its supply chain and adhere to its expansion blueprint.
Also Read: Boeing Coughs Up $8.1M Over V-22 Osprey False Claims
Price Action: BA shares are trading higher by 0.13% at $188.08 in premarket on the last check Tuesday.
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