Boeing Co (NYSE:BA, ETR:BCO) has received crucial clearance from China’s aviation regulator, moving it a step closer to resuming deliveries of 737 Max aircraft to the country after a more than four-year ban, CNBC reported on Wednesday, citing trade publication The Air Current.
Aircraft deliveries to China that were suspended in 2019 after two crashes still need approval from China’s National Development and Reform Commission (NDRC), the report stated.
On December 8, China’s aviation regulator’s deputy told a Boeing executive in Beijing the airplane maker was welcome to deepen its development in the Chinese market, Reuters reported.
A 737 Max designated for China Southern Airlines flew from Boeing Field in Seattle to Boeing’s nearby facility in Moses Lake, Washington, and back on Wednesday afternoon, according to data from flight tracking website FlightRadar24.
Boeing projects that China will satisfy 20% of the world’s aircraft demand through 2042, CNBC noted.
Shares of Boeing rose 1.3% to $263.46 in early trading on Thursday and have gained 35% year to date.