© Reuters. FILE PHOTO: A Boeing 737 Max aircraft during a display at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. REUTERS/Peter Cziborra
CHICAGO (Reuters) -Boeing Co on Wednesday forecast higher free cash flow as it expects to ramp up deliveries of 737 MAX and 787 jets, its Chief Financial Officer Brian West told investors on Wednesday.
The Virginia-based planemaker estimates it will generate $3 billion-$5 billion in free cash flow next year, higher than $1.5 billion-$2 billion expected this year.
West said the U.S. aerospace giant expects to deliver 400-450 MAX planes next year, more than the 375 single-aisle planes it expects to deliver this year.
Similarly, it expects to deliver 70-80 787 planes in 2023.
Boeing (NYSE:) is trying to emerge from overlapping crises: the pandemic and the grounding of the 737 Max, its best-selling model, after fatal crashes. Those problems have left it with a pile of debt.
It is aiming to shore up its free cash flow to help pay off its debt.
The company’s shares were up about 5% at $150.27 in morning trade.