Boeing CEO Kelly Ortberg announced that the company has met the requirements set by the U.S. Federal Aviation Administration (FAA) to increase the monthly production rate of its 737 MAX aircraft to 47 units.

The current monthly production rate for this model stands at 42 units.

Ortberg stated that the company's subsequent target is to gradually raise this production rate to 63 units per month.

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Boeing CEO Kelly Ortberg stated on Wednesday that the company has satisfied relevant FAA requirements, officially initiating a plan to boost the monthly production of the 737 MAX to 47 aircraft.

Speaking at the Bernstein Conference, Ortberg revealed that Boeing's current monthly output for the 737 MAX is 42 units.

"We have passed the final audit for a rate of 47 per month, and the production line is currently operating on a trial basis at this capacity standard. It will take several months for production to stabilize. I believe the rate will continue to be adjusted upward. The process may be somewhat slower, but the goal of 47 per month is now steadily advancing, and we expect to officially meet this target within the next two months."

In the latest earnings report released last month, Ortberg had anticipated that this key aircraft model would achieve a monthly production rate of 47 units during this summer. On Wednesday, he reiterated that Boeing is confident in reaching this production target.

Boeing's monthly production for the 737 MAX had previously reached 57 units. However, Ortberg noted that, given current safety and quality control processes, the company cannot sustain that level of output at present.

"Our long-term goal is to achieve a monthly production rate of 63 units, which we look forward to, and market demand is sufficient to support this higher capacity."

He also acknowledged that Boeing still has considerable work to do to further increase 737 MAX production. If the new standard of 47 units per month is implemented in July or August, it will take at least six months or longer to progress toward the target of 52 units per month.

He added, "The world is watching to see if we can successfully achieve the production targets of 47 and then 52 units per month."