Boeing Shares Take Off After China Southern Airlines Test Flight

• 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.

 

See more from Benzinga

• US To Discontinue COVID Testing for Incoming Air Travelers

• Southwest Picks Astronics To Provide Latest Generation Of In-Seat Power System

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.