Boeing Chairman, President and CEO Dennis Muilenburg joined Boeing test pilots aboard a 737 MAX 7 flight for a demonstration of the updated MCAS software.
Source: Boeing
Boeing said Wednesday said it still expects regulators will end a ban before the end of the year on its 737 Max planes, grounded since mid-March after two fatal crashes.
The company, in an earnings release, said its 737 Max production costs in the quarter rose by almost $1 billion as the grounding wore on, but it reiterated its plan to increase production of the planes to 57 a month from 42 currently by the end of 2020.
The best-selling plane hasn't been allowed to fly since the second of two fatal crashes within five months of one another. The two crashes claimed the lives of all 346 people on the flights and prompted a series of investigations into the plane's design and certification by the Federal Aviation Administration.
The 737 program isn't the only trouble spot at Boeing. The company said it would reduce production rates of its 787 twin aisle planes starting late next year "given the current global trade environment."
Boeing shares were up 1.1% in premarket trading.
This is breaking news. Check back for updates.
READ MORE: