Boeing climbs 5% as China Southern concludes 737 MAX test flight

Boeing 737 MAX 8 Planes Face Renewed Scrutiny After Second Crash In 5 Months

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Boeing (NYSE:BA) bounces off its lowest close since March 2020, +5.1% in Thursday’s trading to lead all Dow Jones gainers, after China Southern Airlines (ZNH) conducted test flights with a 737 MAX jet for the first time since March.

A MAX jet reportedly took off from Guangzhou on Tuesday morning and landed two hours later in the city of Nanyang in central China, before returning to Guangzhou in the evening, Reuters reported, citing aviation data provider VariFlight.

China Southern (ZNH) apparently had not flown any other MAX jets in the last 90 days.

Boeing (BA) gained even as it continues to lose ground to rival Airbus, reporting deliveries 35 planes in May, on par with April as it copes with supply chain issues affecting the best-selling 737 MAX.

Boeing (BA) said it booked gross orders for 23 aircraft last month, including seven 787-9 Dreamliners for Lufthansa, after booking gross orders for 46 planes in April.

For the full year through May, Boeing (BA) booked 236 gross orders, or 171 after cancellations and conversions; after accounting adjustments, Boeing said YTD net orders totaled 107.

Boeing (BA) also jumped more than 5% on Tuesday as the Seattle Times reported the company may resume 787 Dreamliner deliveries in the coming weeks.

Harry Byrne

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