Boeing is preparing to ask for approval from the U.S. Federal Aviation Administration (FAA) to ramp up production of its 737 Max jets, CEO Kelly Ortberg said April 23, after the company reported better-than-expected results for Q1 2024, reports CNBC.

Boeing’s first-quarter loss narrowed to $31 million, it burned less cash than analysts estimated, and its airplane deliveries rose close to 60% from a year ago as the company worked to stabilize production.

The first-quarter net loss of $31 million was an improvement from a loss of $355 million a year earlier, as revenue rose 18% to $19.5 billion, slightly ahead of analysts’ estimates. The results include only the impact of global tariffs as of March 31, the company said. 

“Our company is moving in the right direction as we start to see improved operational performance across our businesses from our ongoing focus on safety and quality," said Ortberg in an April 23 press release.

Since a January 2024 accident, when a door plug blew out midair, Boeing must receive approval from the FAA to increase output of the 737 Max to above 38 jets a month. Boeing had been producing significantly below that level after the accident and a nearly two-month union strike in 2024 halted much of the company’s manufacturing. Now, the company is seeking to increase the output to 42 a month later this year, CNBC said.