The Federal Aviation Administration issued final type certification for the Boeing 737 MAX 10 late Friday, ending a five-year delay that had become an embarrassment for both the manufacturer and the agency. The certification immediately unlocks an $84 billion order backlog comprising 1,180 firm orders from 38 customers, including 200 aircraft for United Airlines and 150 for Delta Air Lines.
Boeing shares surged 11.4% in extended trading Friday to $267, the highest level since the 2018 peak before the original MAX grounding, and traded up an additional 2.8% in Saturday's Robinhood weekend session. The rally added approximately $16 billion to Boeing's market capitalization and triggered short-covering that contributed roughly 30% of the move, according to S3 Partners data.
United Takes First Delivery in May
United Airlines confirmed that it will accept its first MAX 10 delivery on May 18 with revenue service beginning in early June. The carrier's firm order book of 200 aircraft, with options for an additional 100, will replace its aging Airbus A320ceo and Boeing 757-200 fleets and is expected to deliver fuel cost savings of approximately $400 million annually once fully implemented.
Delta Air Lines, which placed its 130-aircraft order in 2022 but switched to additional A321neos when the MAX 10 certification stalled, is in advanced discussions to add another 50-100 MAX 10 aircraft to recover delivery slots and diversify its fleet. CEO Ed Bastian told CNBC Saturday that the airline "remains committed to a balanced supplier relationship" and that the new MAX 10 aircraft would "complement, not replace" Delta's Airbus orders.
Production Ramp Constraints
The certification removes the final regulatory constraint on Boeing's 737 family ramp, but production capacity remains the binding constraint. Boeing CEO Kelly Ortberg confirmed that the company will produce approximately 38 737 MAX aircraft per month by year-end, up from 26 in March, with a path to 50 per month by mid-2027 as supplier capacity expands.
Spirit AeroSystems, which manufactures the 737 fuselage, is the primary bottleneck. Boeing's pending acquisition of Spirit, announced in 2024, is expected to close by July 1 and will give Boeing direct control over fuselage production for the first time since the 2005 spinoff. The vertical integration is expected to support a more aggressive production ramp during 2027 and 2028.