Boeing’s Chief Financial Officer, Jay Malave, announced on 2 December 2025 that the company expects a meaningful rebound in deliveries of its 737 and 787 jets in 2026 — a signal that Boeing’s long‑term recovery may be gaining real traction.
Malave delivered the update at a conference hosted by UBS, describing Boeing’s turnaround as “in full force.” He referenced both the 737 and 787 programmes as key contributors to the anticipated uplift in deliveries. On the corporate‑finance front, Boeing now forecasts a return to positive free cash flow in 2026. The company expects “low single‑digit” billions of US$ free cash flow, reversing a projected US$ 2 billion cash outlay for 2025.
Improved deliveries alone are not the only lever — Boeing also sees margin improvements coming from enhanced productivity in its manufacturing infrastructure, a reduction in the inventory of undelivered aircraft, better performance in its defence segment, and growth in its services operations.
“Big picture, we expect deliveries both on the 737 and 787 to grow in spite of the fact that we have less aircraft coming out of inventory to be delivered.,” Malave said.
Investors responded positively: Boeing shares surged strongly on the news, reflecting renewed confidence that the company may finally emerge from its prolonged period of production, safety and cash‑flow challenges.
Nonetheless, Boeing still faces several headwinds, underscoring that the road to full recovery remains unfinished. While the narrow‑body 737‑10 is slated for certification — possibly late in 2026 — that approval is still pending. Meanwhile, Boeing has also carried sizable charges and delays related to its wide‑body 777X programme, which continue to weigh on longer‑term free‑cash‑flow projections for 2026 and beyond. Malave also noted that a Department of Justice penalty originally scheduled for 2025 would now shift into 2026.
Longer term, Boeing maintains a headline target of generating US$ 10 billion annually in free cash flow — “There’s just no reason why we can’t get to that once we get to these higher rates,” Malave said.
