Boeing CEO Kelly Ortberg said it is taking “a little bit longer” than expected to stabilize production of the 737 Max, though the company still expects to increase output of the aircraft next year.
Ortberg made the remarks on Wednesday while speaking to investors. After his comments, Boeing shares extended their losses for the day and were down more than 5% in afternoon trading.
The 737 Max is Boeing’s best-selling aircraft and is central to the company’s turnaround effort after years of safety and quality crises. Boeing has been trying to steadily raise production of the jet in recent months.
According to Ortberg, the main constraint right now is wing production at the company’s Renton, Washington, factory. He said Boeing has plans in place to address that issue. The company is currently producing about 47 aircraft a month.
Speaking at a Morgan Stanley industry conference, Ortberg also reiterated that he expects certification of the Max 10, the largest model in the family, “very soon.” That aircraft is years behind schedule.
He did not say whether he expects aircraft orders from China as U.S. President Donald Trump is scheduled to host Chinese leader Xi Jinping at the White House on Sept. 24. Orders from China, Ortberg said, “are going to be announced by the airlines at their pace.”
