Why Boeing Stock Is Taking Off Today

Boeing Co BA shares are trading higher Monday following reports indicating the U.S. Federal Aviation Administration approved the company's inspection and modification plan to resume deliveries of its 787 Dreamliners.

The FAA on Friday approved Boeing's proposal, which requires specific inspections in order to confirm the condition of the plane meets certain requirements, according to a Reuters report, citing two people who were briefed on the matter.

Boeing halted deliveries of the 787 Dreamliner in May 2021. The approval is expected to give Boeing the green light to resume deliveries this month.

In other news, Boeing announced on Monday that it will strengthen its partnership with Japan by opening a new Boeing Research and Technology center. The facility will focus on sustainability and support a newly expanded cooperation agreement with Japan's Ministry of Economy, Trade and Industry.

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BA Price Action: Boeing has a 52-week high of $229.67 and a 52-week low of $113.02.

The stock was up 4.58% at $166.60 at press time, according to data from Benzinga Pro.

Photo: courtesy of Boeing.