RENTON, Wash. (AP) -- Boeing is increasing the monthly production rate of its 737 to 42 airplanes, thanks in part to factory efficiency improvements.
The company said Tuesday that the production rate has climbed about 33 percent since 2010's 31.5 planes a month.
Beverly Wyse, vice president and general manager of the 737 program for Boeing Commercial Airplanes, said in a statement that the higher production rate will help get the airplanes into customers' hands as fast as possible.
Boeing is starting assembly of the first Next-Generation 737 this week. The company said that the first next-generation 737 built at the new production rate is expected to be delivered in the second quarter.
The company previously announced that the 737 production rate is set to rise to 47 planes a month in 2017.
Shares of Boeing Co. shed 33 cents to $122.75 in afternoon trading.