US PLANE MAKER Boeing yesterday announced plans to ramp up production of its 737 Max planes after manufacturing issues led to significant delivery delays.

There had been major concerns that the manufacturer would not be able to meet its annual target of making at least 400 737 planes, but the firm said it now hopes to produce 38 planes per month and deliver 400 - 450 aeroplanes this year.

The group did caution, however, that near-term deliveries and production on its 737 program will continue to be impacted.

In its quarterly statement, it also reported a 28 per cent increase in revenue on the same period last year.

"We are progressing through recent supply chain disruptions but remain confident in the goals we set for this year, as well as for the longer term," Dave Calhoun, Boeing president and chief executive officer, said yesterday.

Boeing shares took off, finishing up 2.72 per cent.

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