Boeing has received regulator approval to increase production of its 737 Max jetliners to 42 per month. This comes after a previous restriction by the FAA following a near-catastrophe incident involving a door plug blowing off a 737 Max 9 from Alaska Airlines. Boeing failed to reinstall key bolts, causing a safety concern.

The FAA will oversee Boeing’s production as they work with suppliers to ramp up production. CEO Kelly Ortberg anticipates further increases beyond 42 per month in the future. This marks a positive shift in the FAA’s confidence in Boeing after years of restrictions due to crashes and grounding of the Max aircraft.

Boeing has faced challenges including production delays, supply chain issues, and labor strikes, leading to a lack of annual profits since 2018. Despite this, the company is increasing output and on track to deliver new planes at the highest rate since 2018. Quarterly results are expected on Oct. 29.

The company’s turnaround is dependent on increasing production, with the FAA showing support for Boeing’s plans to raise output. Boeing aims to balance inventory with the supply chain, with Ortberg planning for a production rate of around 47 aircraft per month. This shift reflects a positive outlook for the company’s future.

Read more at CNBC: FAA raises Boeing 737 Max production cap to 42 a month