Boeing CEO says met requirements to increase 737 Max production

Boeing’s The company has met requirements set by the Federal Aviation Administration to increase 737 Max aircraft production to 47 jets per month, CEO Kelly Ortberg said Wednesday.

At the Bernstein conference, Ortberg said the company is now rolling out 42 aircraft per month.

“We passed the capstone review at 47, so we are currently in the process of operating the line at a rate of 47 per month,” Ortberg said. “It’s probably going to take a few months for us to stabilize there. … My guess is that we’re going to continue to see interest rates rise. It might take a little longer, but we’re starting to move towards the 47 a month rate right now, and we should be getting there within the next few months.”

In Boeing’s most recent earnings report last month, Ortberg said he expected the company to increase production of its best-selling planes to 47 per month this summer. He said Wednesday he was “extremely confident” Boeing was ready to meet that rate.

While Boeing has previously seen production as high as 57 planes per month, Ortberg said he doesn’t believe the company can currently maintain that rate with its safety and quality processes.

“We want to get to the 63 per month rate someday, and so we’re looking forward to that,” Ortberg said. “The market will support these higher rates.”

Still, he acknowledged that Boeing “has work to do” to get to a point where the company can further increase production rates of its 737 Max plane. While the company aims to reach a production rate of 52 per month, Ortberg said the process could take at least six months if the newly approved rate goes into effect in July or August.

“I think the whole world is watching to make sure we get to 47 and 52,” he added.

— CNBC’s Meghan Reeder contributed to this report.