Investing.com -- Boeing CEO Kelly Ortberg said Monday that the planemaker will need "a couple more years" to repair its finances before launching a new commercial jet. The company is focused on stabilizing its existing business rather than developing a successor to its best-selling 737 MAX.

Ortberg made the comments to CNBC's Phil LeBeau at the Farnborough International Airshow in the U.K. He outlined three hurdles Boeing must clear before committing to a new aircraft program.

"First of all, we have to be ready, and part of that is getting our financial house in order, and we're working on that," Ortberg said. "It's going to take a couple more years to get where we want to be."

Airline customers are telling Boeing to focus on improving the reliability and production of its current lineup rather than introducing a new jet, Ortberg said. This suggests the company is unlikely to launch a new narrowbody aircraft until later in the decade.

Ortberg came out of retirement to lead the company after a series of manufacturing and quality issues and a near-catastrophic blowout of a fuselage door plug in January 2024. He said the technology needs to be ready to introduce a new airplane and the company needs to see sufficient market demand.

The large commercial aircraft market is currently dominated by Boeing and Airbus. Airbus CEO Guillaume Faury told CNBC on Monday that his company is targeting a next-generation single-aisle jet around 2030, with entry into service in the second half of that decade.

"We're the leader in the single-aisle segment, and we want to retain that position," Faury said at Farnborough. He added that focus is also on ramping up production of current aircraft.

Both Boeing and Airbus have struggled with supply crunches following the Covid-19 pandemic and have not been able to meet demand for new aircraft from customers.