Boeing unlikely to hit pre-grounding output targets for 737 MAX before 2022

Boeing Co is unlikely, for several years, to hit the monthly 57-unit production rate it had targeted for the 737 MAX preceding the grounding of the jet due to delays in regulatory approval, Chief Financial Officer Greg Smith said on Wednesday.

Boeing was building 52 MAX aircraft per month before the plane was grounded last March following two fatal crashes, which slowed production rates and ultimately spurred an output freeze beginning in January this year.

U.S. approval for the 737 MAX to fly again is now expected by mid-year and Boeing has said it could slowly resume production before the plane is allowed back in the air.

“As we gain confidence in that time frame of when the grounding will be lifted, that’s when we’ll reassess and start to wake the line up,” Smith said at an investor conference.