Proactive Investors - The Boeing Company (NYSE:BA) is looking to push production of its 737 narrow-body jets to record levels in the coming years to meet booming demand for short-haul flights.
According to Reuters, the manufacturing giant is eyeing production of 57 737s a month come July 2025.
This would bring Boeing in line with its previously sought production target, sources told Reuters, before it was scrapped as the MAX variant of the 737 was grounded in 2019.
Two fatal crashes of the MAX had brought production and use of the jet to a standstill in 2019, with the pandemic then severely hitting the sector from 2020.
Given the industry’s rapid post-Covid recovery, Boeing and rival Airbus Group (EPA:AIR) have both laid out ambitious production targets.
This is in spite of their own supply delays continuing to hit production this year, threatening the prospect of shortfalls in 2024.
Boeing's timeline will aim to see 42 737s built monthly come December, stretching to 52 next late year and 57 in mid-2025.
Airbus, meanwhile, aims to have ramped up production of its narrow-body A320neo family to 75 jets a month by 2026.