Boeing Trying To Resume Max 737 Flights In Asia: Report

Boeing Co. BA is working with regulators and customers in Asia to return the 737 Max aircraft to service in the region, according to a Reuters report, citing a company executive.

“We’re continuing to work with global regulators and our customers to return the 737 MAX to service worldwide,” Reuters quoted Boeing's Vice President Commercial Marketing Darren Hulst.

What Happened: The Boeing 737 Max aircraft was grounded worldwide nearly two years ago following two deadly crashes - one in Indonesia in October 2018 and another in Ethiopia in March 2019.

The jet has already been approved to resume flights by regulators in the U.S, Europe, Canada, Britain, Brazil, and other countries  following technical modifications and additional training of pilots.

But the aircraft is yet to take to the skies in Asia. Before the grounding, the jet was operating in China, Singapore, South Korea, Indonesia, India, Thailand, and Fiji.

Hulst said the company was going to defer to regulators individually for more information on the timing of recertification by domicile.

Why It Matters: The Boeing 737 Max was Boeing’s best-selling jet before the incidents.

According to the Reuters report, Hulst said he sees strong demand for the aircraft in Southeast Asia.   

Boeing projects demand for 4,400 aircraft in the region between 2020 and 2039 as part of the company’s broader 20-year demand forecast.

Price Action: Boeing shares closed 8% higher at $229.34 on Wednesday.

Image: pjs2005 via WikiCommons