Boeing CEO Kelly Ortberg said the company was “seeing encouraging signs” as it tries to turn around following a rough 2024.

Boeing has made progress winnowing its once-massive inventory of undelivered 737 Max and 787s and is now preparing to shutter so-called "shadow factories" in which it has been completing rework on the aircraft.

Ryanair expects Boeing to produce 38 of its 737 MAX planes per month by the end of the summer and possibly up to 42 by October, subject to U.S. Federal Aviation Administration approval, Ryanair CEO Michael O'Leary said on Monday.

The smallest of these is the Boeing 737 MAX 7, which has yet to enter service and is still awaiting certification from the Federal Aviation Administration (FAA). The jet is designed to replace the earlier Boeing 737-700,

Boeing Co. Chief Executive Officer Kelly Ortberg said he’s optimistic the company can return to a closely watched production rate of its all-important 737 airliner this year, a key milestone to help turn a corner after reporting the second-worst annual loss in its history.

Boeing reported a hefty fourth-quarter loss Tuesday following a bruising 2024, but shares rallied on hopes that early turnaround signs under a new CEO may bear fruit.

Boeing posted a roughly $4 billion loss for the fourth quarter, according to preliminary results last week. The company has taken charges that span its defense and commercial airplane units. CEO Kelly Ortberg is set to detail the company's next steps after safety and manufacturing crises.

President Donald Trump's nominee to head the U.S. Transportation Department said he will keep in place a cap on production of Boeing 737 MAX planes put in place after a mid-air panel blowout last year until he is satisfied it can be safely raised.

Boeing aims this year to hike 737 production to at least 38 jets monthly, and possibly as high as 42 if it receives permission to do so from the Federal Aviation Administration.

Boeing commercial jet deliveries dropped last year by more than a third compared to 2023, as the aerospace giant wrestled with multiple major challenges. In data released Tuesday, Boeing (NYSE: BA) reported it delivered 348 airplanes to customers in 2024, down from 528 the year prior.

In an interview with The Seattle Times after reporting grim financial results early Tuesday, Kelly Ortberg said that six months into the job, he thinks Boeing is "starting to turn the corner."