CNBC's Phil LeBeau joins 'Squawk on the Street' to break down Boeing's performance after Kelly Ortberg's first year as CEO.

Boeing has experienced a 35% rise in its share price during Kelly Ortberg's first year as CEO, driven by a renewed focus on quality and safety. The company has reduced losses, lowered cash burn, and expects to become cash flow positive by the end of the year, contingent on increased 737 Max production and FAA approval. 

Boeing's backlog for the 737 Max stands at 4,869 planes, with production rates expected to rise if regulatory approvals are granted. Additionally, the Spirit acquisition, which involves both Boeing and Airbus, is nearing completion and is anticipated to serve as a catalyst for further growth in the aviation sector.

Where Boeing stands after Kelly Ortberg's first year as CEO

Today marks one year since Kelly Ortberg took over as CEO of Boeing. Shares are up 35% at that time. Our Phil LeBeau is here with more on where the planemaker is and its turnaround plan. Phil, I see it's up a hundred bucks since that April 7th low. Remember that? When it was down that low, there were more than a few people saying, well, you got to buy it here. It can only go up from here. But Kelly Ortberg becoming the CEO in August of last year, that was a significant moment because he essentially came in and said, you know what, we're going to get back to the basics. And that's really been the progress that he's made at Boeing, focusing on quality and safety. And I know that's not sexy, but it was so important for the company. It's helped cut losses. They have lowered their cash burn. Probably are going to be cash flow positive by the end of the year. At least that's their projection. And they're improving 737 max production, which means improving deliveries. That's how they're going to get back to cash flow positive. It's always been the case at Boeing, commercial airplanes drive the bottom line more than anything else. In the first half, they deliver 201, the production rate right now, 38 per month. They expect to be up to 42 per month by the end of the year, provided they get approval by the FAA. So as you take a look at shares of Boeing, and we're going back all the way to March 10th of 2019. Why are we going back that far? Because that's when there was the second 737 max crash. And that really was the beginning of what's been, essentially, seven years of struggles at Boeing. The backlog, by the way, for the max now stands at 4,869 planes. And again, as I mentioned earlier, the plan for Boeing, at least their projection, when we talked to Kelly Orperg a few weeks ago, is to be cash flow positive by the end of this year. If they hit that target, guys, I bet you're going to see this stock take another step higher. Because once you get to that point, if you are Boeing and you increase your commercial airplane production, you really start to see the cash flow improve substantially. Phil, I did see we got some international approvals of the Spirit deal today as well. True, that is a big part of this. And remember, with Spirit, it's not that all of this is being bought by, they're a primary supplier, both for Boeing and for Airbus. But part of the hang-up with getting that deal done was that there's a good chunk of it that is being bought by Airbus. They have facilities over in the UK that will now be part of Airbus's operation. So the Spirit acquisition slash split up is almost done. And once that gets done, that's going to be perceived as another catalyst, both for Boeing and for Airbus. It's a big story, exceeded only year-to-date by NVIDIA, as far as down names on the upside. That's Phil LeBeau watching the anniversary of Wartburg's tenure.

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Breakdown