Boeing shares rise on report 737 Max fix could come sooner than expected


    Shares of Boeing rebounded Friday after a report that the plane manufacturer plans to roll out a software upgrade for its 737 Max aircraft in the coming weeks.

    Shares rose roughly 3 percent Friday afternoon following the report, its best day in more than a month. The stock was up about 1.8 percent ahead of the market close, and still having its worst week since early 2016.

    A weeks-long turnaround would come much sooner than some on Wall Street had estimated. Bank of America predicted this week that it would take the aircraft manufacturer three to six months to “certify the fix.”

    Ethiopian Airlines Flight 302 crashed on Sunday, less than five months after the crash of Lion Air Boeing 737 Max 8 flight from Jakarta, Indonesia, killing all 189 people on board. Both planes were new, delivered from Boeing just months before those flights.

    Of the more than 350 Boeing 737 Max jets in global fleets, 74 are flown by U.S. airlines United Airlines, American Airlines and Southwest Airlines, according to the FAA.

    — CNBC’s Leslie Josephs , Meghan Reeder and J.R. Reed contributed reporting.

    Source link


    Please enter your comment!
    Please enter your name here