Boeing Company (NYSE: BA) has been reportedly notified by China's aviation regulator's deputy head that the airplane maker was welcome to fortify its footprint and development in the Chinese market.
In a meeting with Mike Fleming, Boeing's Senior Vice President for Development Programs and Customer Support, the Civil Aviation Administration of China (CAAC) encouraged Boeing to further enhance its exchanges and cooperation with both the regulatory body and the aviation industry in China, according to a news report by Reuters.
The meeting occurred amid reports that China is contemplating the reinstatement of its 737 Max aircraft sales to Chinese airlines, Reuters noted.
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This consideration comes over four years after the sales were suspended in the wake of two fatal accidents.
In his statement, Hu highlighted that "China's civil aviation and Boeing have experienced 50 years of 'friendly exchanges and cooperation" and emphasized that both parties have developed a "close" working relationship across various sectors, the report added.
Price Action: BA shares are trading higher by 1.55% to $241 on the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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