Boeing posted a fourth-quarter loss of $3.8 billion on Tuesday as a machinists strike and other problems continued to plague the troubled aircraft manufacturer.

Ryanair is confident that Boeing will ramp up its production of 737 MAX jets to 38 per month this summer and will be allowed by U.S. President Donald Trump's administration to then increase that to 42,

Boeing said on Tuesday it was making progress on increasing plane production, and its shares jumped nearly 8%, despite the company recording its biggest annual loss in four years.

Boeing is seeking temporary regulatory exemptions for a stall-management yaw damper (SMYD) system on the 737 Max 7 and Max 10, saying a classification change left it unable to demonstrate that the systems meet airworthiness standards.

Boeing has made progress winnowing its once-massive inventory of undelivered 737 Max and 787s and is now preparing to shutter so-called "shadow factories" in which it has been completing rework on the aircraft.

CEO Kelly Ortberg took over at Boeing knowing that the company was in trouble. However, during its earnings call and interviews with Reuters and other news outlets, Ortberg indicated the worst is behind Boeing.

Ryanair expects Boeing to produce 38 of its 737 MAX planes per month by the end of the summer and possibly up to 42 by October, subject to U.S. Federal Aviation Administration approval, Ryanair CEO Michael O'Leary said on Monday.

The smallest of these is the Boeing 737 MAX 7, which has yet to enter service and is still awaiting certification from the Federal Aviation Administration (FAA). The jet is designed to replace the earlier Boeing 737-700,

Airplane maker’s whopping losses for the fourth quarter and full year illustrate the urgency for the company, which has about 3,000 employees in San Antonio.

President Donald Trump's nominee to head the U.S. Transportation Department said he will keep in place a cap on production of Boeing 737 MAX planes put in place after a mid-air panel blowout last year until he is satisfied it can be safely raised.

Ryanair ( RYAAY) ( OTCPK:RYAOF) Chief Executive Michael O’Leary estimates that plane maker Boeing ( NYSE: BA) will be able to lift output of its 737 Max jetliners to 38 a month by the end of summer and possibly to 42 by October if aviation authorities approve, Reuters reported Monday.