Key facts
- Boeing CEO Kelly Ortberg said stabilizing 737 MAX production at 47 jets per month is taking longer than expected.
- Boeing's share price dropped about 2.5% immediately after the comments, and was down 4.5% for the day.
- The company plans to increase production to 52 jets per month after stabilization.
- The 737-10 variant certification is several years behind schedule but expected "very soon."
- Ortberg downplayed expectations for a large jetliner order from China during President Xi Jinping's meeting with President Donald Trump.
Boeing CEO Kelly Ortberg said on Wednesday that stabilizing the 737 MAX production rate at 47 jets per month is taking longer than anticipated. The company's share price fell approximately 2.5% immediately following his remarks, and was down 4.5% for the day.
Ortberg indicated that after stabilizing at the current rate, Boeing aims to increase production to 52 jets per month. He also stated that the certification of the 737-10, the largest variant of the 737 MAX, is nearing completion, though it is several years behind schedule. Speaking at the Bernstein Strategic Decisions Conference, Ortberg mentioned a long-term goal of producing 63 MAX jets per month, contingent on supply chain readiness and safety processes. He noted that the North Line in Everett, Washington, will be brought online to support higher production rates and provide flexibility for the MAX 10 variant.
Ortberg also downplayed expectations for a significant jetliner order from China during an upcoming meeting between Chinese President Xi Jinping and U.S. President Donald Trump in Washington, D.C. He mentioned that the 737 MAX 7 and MAX 10 certification programs are in their final stages, with the MAX 10 certification expected by the end of the year to support next year's deliveries. The certification process for the 777X widebody is expected to conclude later, in 2027.