Boeing Meets FAA Requirements to Increase 737 Max Production to 47 Jets Per Month

Boeing CEO Kelly Ortberg said Wednesday that the company has met requirements set by the Federal Aviation Administration to increase its production of 737 Max aircraft to 47 jets per month. The company is currently rolling out aircraft at a rate of 42 per month, Ortberg said at a Bernstein conference. "We've passed the capstone review for rate 47, so we are now in the process of running the line at the 47-a-month rate," Ortberg said. "It'll probably take us a few months of stabilization there. ... My guess is we continue to go up in rate. It may take a little bit longer, but we're off and rolling now for the 47-a-month rate, and we should be there in the next couple months." In Boeing's most recent earnings report last month, Ortberg said he expected the company to ramp up the production of its bestselling aircraft to 47 a month this summer. On Wednesday, he said Boeing is "highly confident" that it's ready to meet that rate. While Boeing has previously seen production as high as 57 aircraft a month, Ortberg said he doesn't believe the company can currently sustain that rate with its safety and quality processes. "We'd like to get someday to a 63-a-month rate, and so we're looking forward to that," Ortberg said. "The market will support those higher rates." Still, he acknowledged Boeing has "work to do" to get to a point where the company can further ramp up its production rates of the 737 Max aircraft. As the company looks toward reaching a 52-per-month production rate, Ortberg said that process could take at least six months, if not longer, if the newly approved rate goes into effect in July or August. "I think the whole world's watching to make sure we make 47 and 52," he added. — CNBC's Meghan Reeder contributed to this report.