Published: Wednesday, June 16, 2010
Boeing says it will boost production of hot-selling 737
SEATTLE — Boeing said Tuesday that it is again boosting plans for production of the 737 jet in 2012, anticipating long-term growth in demand for the commercial plane.
Boeing said it will make 35 per month beginning in early 2012. The jet maker says customers are exercising order options and placing new orders for the plane.
Boeing already raised its production forecast in May, saying at the time that it expected to produce 34 737s in May instead of the originally planned 31.5 planes.
The Chicago-based company plans to work with suppliers over the next 18 months to prepare for the higher output. The increase in production is not expected to impact 2010 financial results.
The 737 is the world’s most widely flown passenger jet.
The announcement helped boost Boeing’s stock by 4 percent to $67.48 and also helped pull industrial stocks much higher in Tuesday’s market.
The Dow Jones industrial average rose 213 points to the highest close since May 19 and had the third advance in four days. Major stock indexes rose more than 2 percent.
The advance was broad, but came on light trading volume. That’s a sign that many traders are staying out of the market while they wait to see if stocks will keep moving higher after weeks of erratic trading.
Boeing said it will make 35 per month beginning in early 2012. The jet maker says customers are exercising order options and placing new orders for the plane.
Boeing already raised its production forecast in May, saying at the time that it expected to produce 34 737s in May instead of the originally planned 31.5 planes.
The Chicago-based company plans to work with suppliers over the next 18 months to prepare for the higher output. The increase in production is not expected to impact 2010 financial results.
The 737 is the world’s most widely flown passenger jet.
The announcement helped boost Boeing’s stock by 4 percent to $67.48 and also helped pull industrial stocks much higher in Tuesday’s market.
The Dow Jones industrial average rose 213 points to the highest close since May 19 and had the third advance in four days. Major stock indexes rose more than 2 percent.
The advance was broad, but came on light trading volume. That’s a sign that many traders are staying out of the market while they wait to see if stocks will keep moving higher after weeks of erratic trading.
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