🔴 LIVE: The Secrets of ProPicks AI Success Revealed + November’s List FREEWatch Now

Boeing CEO hints at higher jet output, optimistic on China

Published 01/31/2023, 05:51 PM
Updated 01/31/2023, 08:16 PM
© Reuters. FILE PHOTO: The Boeing logo is displayed on a screen, at the New York Stock Exchange (NYSE) in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid/File Photo
BA
-

By Tim Hepher and David Shepardson

PARIS/WASHINGTON (Reuters) -Boeing Co Chief Executive Dave Calhoun pointed toward future increases in narrow-body jet production and voiced hopes that an upcoming visit to China by U.S. Secretary of State Antony Blinken would lead eventually to "robust" plane orders.

Asked on Bloomberg TV on Tuesday whether plans to open a new 737 MAX assembly line in Boeing (NYSE:BA)'s Everett, Washington, plant represented a "down-payment on higher production," Calhoun said "yes," but did not give estimates beyond Boeing's existing target for 50 jets a month from its current 31 MAX production rate.

Blinken is planning a Feb. 5-6 trip to China, the White House has said.

Boeing has 138 737 MAX airplanes in inventory for Chinese carriers but has been unable to deliver them amid U.S. China geopolitical tensions. Calhoun said last week China will "need the MAX" to meet demand.

"So now all of a sudden (demand) is coming back fast and they need airplanes. First and foremost, we've got to get the airplanes they already own back in the air," Calhoun told Bloomberg TV of Chinese carriers 737 MAX planes.

© Reuters. FILE PHOTO: The Boeing logo is displayed on a screen, at the New York Stock Exchange (NYSE) in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid/File Photo

"Then the second step is return to delivery, which the airplanes that are on our tarmac waiting to be delivered to China. So then we try to move down that path and then hopefully, hopefully we get a robust pipeline in China as well."

In September, Calhoun said Boeing would begin to remarket some 737 MAX jets earmarked for Chinese customers. Calhoun said last week that effort to remarket planes was on pause "until we understand completely where China wants to go."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.