Boeing Rises as CEO Touts 737 Output, New Jet Approvals Nearing

Boeing Co.'s Chief Executive Officer gave investors an optimistic forecast for this year and beyond, as the US planemaker raises production on its workhorse 737 Max jet, nears certification on long-delayed models and expects a windfall from defense spending. The planemaker has successfully completed a so-called capstone review with the Federal Aviation Administration to further increase production of the 737 Max to 47-jet monthly output, a key step to improve profitability and generate cash, Kelly Ortberg said at the Bernstein Strategic Decisions Conference on Wednesday.  The company is in the final flight testing stages for the 737 Max 7 and 10 variants, and the intercontinental 777X model, Ortberg said. Still, the certification of seats and the supplies of engines from GE Aerospace for the 787 Dreamliner are bottlenecks that are delaying deliveries. We get reaction from Sid Philip, Chief Aviation Correspondent for Bloomberg News.