Boeing NYSE:BA does not expect to bring its next-generation single-aisle jet to market until near the end of the 2030s, as the company focuses on repairing its finances and stabilizing existing aircraft programs.
CEO Kelly Ortberg said Boeing is not yet financially ready to commit the tens of billions of dollars typically required to develop an all-new commercial aircraft. He also argued that airline demand has not reached the point where a replacement for the 737 Max is urgently needed.
Boeing builds commercial jets, military aircraft and aerospace systems, with the 737 Max serving as the backbone of its narrow-body business. That makes improving production and deliveries more important in the near term than launching another costly aircraft program.
The company still sees healthy demand for the Max, highlighted by a new order for 100 aircraft from lessor SMBC Aviation Capital. Ortberg said Boeing is turning the corner after years of financial and operational setbacks.