Equities

Boeing shares rise after Reuters reveals 737 production ramp-up

Boeing shares rise after Reuters reveals 737 production ramp-up

Reuters exclusively reported on August 22 that Boeing Co has told suppliers it will resume production of its best-selling 737 jets at a rate of 52 aircraft per month in February 2020, before stepping up to a record 57 jets monthly in June. The news about Boeing’s biggest cash cow sent the company’s shares 4% higher. The rally, which pulled the Dow back into positive territory, was the second largest single-day share gain for Boeing this year. Reuters was also first to report that the FAA is seeking pilots to test software on the grounded 737 MAX, a further sign that the process to recertify the plane is moving along.