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Boeing Gains on Report 737 Max to Fly Again in China

Stock MarketsJan 13, 2022 08:10AM ET
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© Reuters.

By Dhirendra Tripathi

Investing.com – Boeing stock (NYSE:BA) stock rose 2.5% in Thursday’s premarket trading following a Bloomberg report that Chinese airlines could begin to fly its 737 MAX planes again this month onward.

Regulators in the world’s largest aviation market have kept the planes grounded following two fatal crashes, one each in 2018 and 2019. Boeing has since made computer fixes to the narrow-body planes, the company's biggest money-spinner prior to the crashes. A separate electrical issue in April last year had led the company to halt its deliveries of the same planes for a brief period.

China's Civil Aviation Authority gave its airworthiness certificate to the planes last month while telling the country’s carriers to comment on the changes made by the manufacturer. Those comments came in November.

U.S. regulators gave their approval to fly the planes again more than a year back.

Boeing said Tuesday it booked net orders of 535 aircraft overall in 2021, edging out arch-rival Airbus' (PA:AIR) bookings of 507 units.

According to a forecast given by Boeing in September, the market is likely to take delivery of 19,330 planes over the next ten years, short of the estimate it gave in 2019.

 

 

Boeing Gains on Report 737 Max to Fly Again in China
 

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Comments (1)
Johnny Crash
Johnny Crash Jan 13, 2022 11:53AM ET
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The valuation of a company that produces planes that can't fly is mind boggling
Crude Landman
Crude Landman Jan 13, 2022 11:53AM ET
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Well, they can fly, and they make a lot in other ways than just sales. Wake up and smell the jet fuel.
Emiliano Be
Emiliano Be Jan 13, 2022 11:53AM ET
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a lot of valuations are higher then they should be. or what we think they should be that's the market today. If your not in your probably losing.
 
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