Boeing shares rose by 6.7% after 737 MAX flight permission

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Boeing shares rose by 6.7% after 737 MAX flight permission

23.11.2020 News

Before starting flights, Boeing will need to comply with a number of regulatory requirements – retrain pilots and update aircraft software.

Boeing shares in the premarket rose by 6.73% to $ 234.16 per share, according to previous trading data.

The head of the US Federal Aviation Administration (FAA), Steve Dickson, has signed an order allowing the Boeing 737 MAX to return to commercial operation. Safety studies of these aircraft took 20 months.

“Dickson personally received the recommended pilot training and flew a Boeing 737 MAX to test piloting the aircraft himself,” the FAA said in a statement.
However, the Civil Aviation Authority has issued a directive ordering to change the pilot training program, install new software for aircraft and improve their maintenance by airlines. Thus, the Boeing 737 MAX will not be able to start flying immediately without first complying with FAA requirements.

Boeing 737 MAX flights were banned after two plane crashes. At the end of October 2018, 189 people died in Indonesia due to a plane crash. In March of the following year, a liner of the same model crashed in Ethiopia. The victims of the plane crash were 157 people. The causes of accidents are considered to be a malfunction of the maneuverability improvement system (MCAS). The Boeing 737 MAX has been finalized for two years.

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