Why Shares of Boeing Are Higher Today
Shares of Boeing (NYSE: BA) traded up 5% on Thursday morning based on progress getting its troubled 737 Max flying again and positive sentiment surrounding the airlines. It's been a tough year for Boeing shares, but investors today were focused on the potential for better days ahead.
Boeing has been hit hard by COVID-19, which has caused its airline customers to retrench and slow growth plans. But the company had issues prior to the pandemic, most notably a pair of fatal 737 Max crashes that led to the plane being grounded in March 2019.
The COVID-related issues are going to take years to work out, but Boeing is seemingly making progress getting the 737 Max back in the air. U.S. and Canadian regulators have already done flight tests, and the European Union Aviation Safety Agency (EASA) issued a statement Thursday saying it "has been working steadily" to return the Max to service as soon as possible.
Source Fool.com
