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Boeing Shares Take Off After China Southern Airlines Test Flight

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  • China Southern Airlines Co Ltd (NYSE: ZNH) flew test flights with a Boeing Co (NYSE: BA) 737 MAX plane this week for the first time since March, reported Reuters, citing flight tracking websites.

  • According to Variflight data, the airline last flew the plane on March 14, a week before the tragic crash of an earlier-generation 737 of China Eastern Airlines Corp Ltd. (NYSE: CEA).

  • The report noted the MAX flights indicate improving travel demand in China as the airline industry starts to rebound from a two-month-long lockdown of the financial centre Shanghai.

  • The report cited OAG data that Chinese airlines increased capacity by 8% this week compared to the previous week.

  • Price Action: BA shares are trading higher by 6.75% at $130.40, ZNH higher by 1.58% at $25.44, and CEA higher by 1.37% at $17.05 on the last check Wednesday.

 

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