Boeing Reportedly Shrinks 737 MAX Jet Inventory to 10

Last July, Boeing had about 100 MAX planes to sell. Now it has 10, a media report says.
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Boeing  (BA) - Get Report reportedly has shrunk its 737 MAX jet inventory to 10 over the past year, boosted by the flying boom across the country and abroad.

Last July, Boeing had an inventory of about 100 MAX planes to sell, and now it has 10, knowledgeable sources told The Wall Street Journal.

The Federal Aviation Industry grounded the 737s in March 2019 after two crashes killed 346 people. It approved resumption of flights in November 2020.

Boeing shares recently traded at $246.52, down 0.7%. They have firmed 0.6% over the past three months.

Buyers of the MAX jets include United Airlines  (UAL) - Get Report and Alaska Air  (ALK) - Get Report. And Southwest  (LUV) - Get Report said this week it would convert nearly three dozen options for the 737 aircraft into firm orders, as the coronavirus pandemic recedes and travel demand continues to improve.

The buying has TheStreet.com Founder Jim Cramer enthusiastic about Boeing.

"My thinking is that people are saying, wait a second, maybe I can get a good deal from Boeing now, [and] I might not get a good deal in a few more months, or that China is about to certify Boeing," Cramer said.

What matters "is that this is travel coming back,” he said.

The number of people passing going through airport security has now reached almost 2 million daily, the highest since March 2020, The Journal reports.

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