FAA clears smallest Boeing 737 Max to fly after years of delays

📰 source: cnbc_topnews · 💼 business

the faa certified boeing's 737 max 7 on monday, ending nearly a decade of delays for the smallest model of the bestselling family. the agency said the approval reflects years of work to resolve complex technical issues, including a redesigned engine anti-icing system.

southwest, which expected the plane before the pandemic, called certification an important step to modernize its all-boeing fleet. boeing and southwest are preparing for delivery of the first airplane. the faa required updates to flight-control software, crew alerting, and the anti-ice system to prevent overheating.

boeing has about 40 of the 737-7 and max 10s built in inventory. the approval could bring cash since airlines pay most of the price on delivery. shares rose over 5% monday. the company still awaits certification for the larger max 10 and 777x. the faa had stripped airworthiness authority after the max 8 crashes killed 346 people.

why it matters: faa clears key 737 model, unlocking deliveries and cash for boeing as it works to recover from years of safety crises.

source: cnbc_topnews
sentiment: +0.60 · impact: 0.50