• Even the Russia-Ukraine conflict hasn’t done much to galvanize Boeing stock.
• A return to early 2020 price levels isn’t a question of “if,” but “when.”
• Investors should seize the opportunity to own a piece of an iconic American business.

Headquartered in Chicago, Boeing (NYSE:BA) is an aerospace and defense company that’s known worldwide. For many generations, it was not uncommon to buy and hold BA stock for reliable returns.

However, there have been no reliable returns over the past year – only quick share-price pops which didn’t last long. One might think that the onset of a war in Eastern Europe would spark massive investor interest in Boeing, but this hasn’t happened.

Still, don’t count Boeing out just yet. It’s an iconic company that has had its ups and downs over the years, and persisted despite the challenges.

The key is to remain patient with Boeing as the company slowly but surely gets back on its feet. As we’ll see, international sales – irrespective of the crisis in Eastern Europe – could catalyze a comeback for this legendary American company.

What’s Happening with BA Stock?

Ultimately, the investors will want to see BA stock return to its pre-Covid-19-pandemic levels. The shares were trading at $340 in mid-February of 2020, so that’s a reasonable long-term objective.

This is not to suggest that the journey back to $340 will be an easy one for Boeing. The company admits that Covid-19 “is adding unprecedented pressure to our business.”

Nevertheless, Boeing says that the company remains confident in its long-term future. Moreover, Boeing assures that the company is “progressing toward the safe return to service of the 737 MAX.”

If you’d like to see how Boeing is progressing in returning the 737 MAX to service, look abroad. The MAX has been grounded for three years in China, but might be up and running there soon.

Just recently, according to two industry sources, a MAX jet departed from Seattle en route to Boeing’s completion plant in China. As you may recall, 737 MAX crashes prompted China to ground the model in 2019.

Boeing Across Borders

So, we’re now seeing a sign of progress of a possible return to the skies for the MAX jet in China. This is significant because China has historically accounted for 17% of 737 MAX deliveries, according to analysts at Jefferies.

Yet, this isn’t the only sign that Boeing is making progress internationally. For example, Boeing has inked three five-year contracts with the Republic of Korea’s Defense Acquisition Program Administration to “manage sustainment of” various military aircraft.

Additionally, Boeing has signed a Memorandum of Understanding to sell five 777-8 Freighters to Ethiopian Airlines.

This aircraft model truly represents the cutting edge, with “payload capacity nearly identical to the 747-400 Freighter and a 30% improvement in fuel efficiency, emissions and operating costs,” according to Boeing.

On top of all that, Caribbean airline Arajet recently ordered 20 737 MAX airplanes. Plus, Arajet has options to purchase 15 additional MAX jets.

What You Can Do Now

With such strong interest for Boeing’s aircraft in multiple countries, it’s really only a matter of time before BA stock returns to the $300s.

This won’t necessarily be a “return to normal,” but at least Boeing should have its famous 737 MAX jets back up and running, particularly in China.

Therefore, it’s still fairly safe to buy and hold shares of Boeing at the current price point. Or, you can add to a current position in the stock, if you’re already a shareholder.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.