Boeing Reportedly to Resume Delivery of 787s as Soon as March

'We continue to expect to resume delivering 787s by the end of March,' Boeing said in a statement cited in a media report.
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Boeing  (BA) - Get Report shares rose Thursday, after a media report said the giant jet maker was set to again deliver its 787 Dreamliners this week.

Deliveries have ceased for five months, as Boeing mechanics have looked for structural flaws in the planes, knowledgeable sources told Bloomberg.

They said that the first delivery could take place as soon as Friday and that Boeing will likely make two to three deliveries in March.

“We continue to expect to resume delivering 787s by the end of March,” Boeing said in a statement to Bloomberg. 

“However, we will continue to take the time necessary and will adjust any delivery plans as needed.”

Boeing shares recently traded at $242.97, up 1.6%. They have soared 67% over the past six months amid investors' enthusiasm regarding the distribution of vaccines and the prospects for economic recovery, along with optimism that the Chicago company is overcoming its woes.

The aerospace giant had to shut down the 737 MAX plane from March 2019 until last November, after the jet was involved in two crashes that killed 346 people.

As for the 787, its dormancy is putting financial pressure on Boeing, with more than 80 undelivered models of the plane in inventory, Bloomberg reports.

In a regulatory filing this week, Boeing said it had forged a $5.28 billion two-year revolving credit agreement with Citigroup, JPMorgan Chase, Bank of America Securities and Wells Fargo Securities.

Also this month, the company said that in February it registered more new orders for commercial planes than cancellations for the first time in 15 months. The totals were 82 new orders and 51 cancellations.