Boeing
shared a positive update about its 737 MAX jets Friday but investors are probably still thinking about recent bad news.
All 100 or so 737 MAX planes operated by Chinese airlines are back in operation,
Boeing’s
China CEO Liu Qing said in a post on social media. He added that Boeing has delivered new planes to Chinese clients in 2023, Reuters reported, without disclosing which models.
The 737 MAX was grounded globally in 2019 after two fatal crashes, and while the model returned to service in most countries the following year, Chinese airlines only resumed operations in January 2023.
It’s a nice note to end the year on and a positive sign that 737 MAX deliveries in China may resume in 2024.
However, it may not outweigh news that the Federal Aviation Administration is monitoring inspections of 737 MAX planes to look for a possible loose bolt in the rudder control system. Boeing urged operators of its newer single-aisle planes to carry out inspections for possible loose hardware, the FAA said Thursday.
It comes after an international operator found a bolt with a missing nut while carrying out routine maintenance. Boeing also discovered an additional undelivered aircraft with a nut that wasn’t properly tightened.
“The issue identified on the particular airplane has been remedied,” a Boeing spokesperson told Barron’s. “Out of an abundance of caution, we are recommending operators inspect their 737 MAX airplanes and inform us of any findings.”
The FAA said it will consider additional action based on any further discovery of loose or missing hardware.
The stock fell 0.7% Thursday and was pointing 0.2% down in premarket trading Friday. The shares are up 37% in 2023. European plane maker
Airbus
has climbed 26% this year.
Write to Callum Keown at [email protected]
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