FAA lifts Boeing 737 MAX production cap, allows 42 planes per month, shares rise 1.2%

Planemaker Boeing Co. has been granted approval from the US Federal Aviation Administration (FAA) on Friday to increase its 737 MAX production rate. The FAA eased an unprecedented cap, allowing the planemaker to raise output to 42 planes per month, up from the 38-plane restriction imposed in January last year.

This move is seen as a major step in Boeing’s effort to restore financial stability and address the intense scrutiny over its manufacturing quality.