08:55 AM EDT, 03/20/2024 (MT Newswires) -- (Updates with comments from Brian West in the first three paragraphs.)

Boeing ( BA ) has decided to keep monthly B737 jet production below 38 as the planemaker predicted cash outflow of $4 billion to $4.5 billion in Q1, Chief Financial Officer Brian West said Wednesday in a conference.

West said the company is "deliberately going to slow" as it implements changes aimed at addressing the US Federal Aviation Administration's concerns, according to a Capital IQ transcript.

"We are the ones who made the decision to constrain rates on the 737 program below 38 per month until we feel like we're ready. And we'll feel the impact of that over the next several months," West said.

The company also plans to only accept a fully conforming fuselage from supplier Spirit AeroSystems ( SPR ) , following regulatory scrutiny of its manufacturing processes after the Jan. 5 incident involving a blowout in a 737 Max 9 plane mid-flight.

Boeing ( BA ) shares were down 2% in recent premarket activity.

Price: 177.5, Change: -3.64, Percent Change: -2.01