Boeing (BA) +2.6% in Friday’s trading after Bloomberg reported the company is repairing damaged wiring in as many as 25 undelivered 737 MAX jets, disrupting near-term deliveries of the aircraft but likely less than initially anticipated.
Boeing (BA) shares slid 3% on March 10, when it reported the latest quality flaw in the 737 MAX without disclosing how many aircraft were affected by the lapse, but the company reportedly has been assuring customers the fallout will be short-lived.
The company has handed over just three 737 MAX jets so far this month, and the last deliveries were March 4, according to data from Cirium Ltd., a sharp drop from February, when the company handed over 43 of the jets.
Investors are closely following the 737 production ramp-up because higher deliveries are crucial to returning the company to better financial footing.