Boeing Co’s new 737 MAX aircraft completed its first test flight Friday, landing safely at Boeing Field in Seattle, according to reports. The plane, which is the fourth version of the original 737, reportedly will help airlines lower operating costs and boost fuel efficiency.

The company reportedly said that the 737 MAX features new engines from CFM International, a joint venture of General Electric and Safran SA of France. During its maiden flight Friday, the airliner reached a maximum altitude of 25,000 feet and an air speed of about 288 miles per hour, Boeing reportedly added.

"[The] 737 MAX 8 remains on track for first delivery in [the] third quarter of 2017," Boeing said in a release Friday. "[It] completed a two-hour, 47-minute flight, taking off from Renton Field… and landing… at Seattle's Boeing Field."

Boeing is expected to deliver its first 737 MAX to customers in 2017. Southwest Airlines Co. is scheduled to be the first airline to add the aircraft to its fleet, according to Reuters.

According to the Seattle Times, the 737 MAX comes in three sizes, seating 126 to 220 passengers.

Earlier this week, Boeing stocks reportedly traded low after the company announced that it would deliver fewer airplanes than expected this year. However, on Friday Boeing stock closed at 1.7 percent up.