Why Boeing Shares Are Gaining Altitude Today
The 737 MAX could be nearing its long-awaited return to the all-important China market, and shares of plane manufacturer Boeing (NYSE: BA) are taking off as a result. Shares of Boeing traded up 5% on Wednesday morning after a report that one of its Chinese customers is conducting 737 MAX test flights.
Boeing's 737 MAX is slowly staging a comeback. The plane was once viewed as likely to break records for total units sold, but a pair of fatal accidents in late 2018 and early 2019 led to it being grounded internationally for 18 months. The MAX was cleared to resume service in the U.S. and other parts of the world in December 2020, but has not yet flown again in China.
China's aviation regulator cleared the plane to be used in service in late 2021, but required the 737 MAX be modified and mandated additional pilot training before it can be returned to scheduled service.
Source Fool.com
