Boeing Co.’s 737 Max can safely return to the skies with an extensive package of fixes, U.S. regulators ruled, after a scarring 20-month hiatus prompted by a pair of fatal crashes.
The actions announced Wednesday on the Federal Aviation Administration’s website mark the end to the longest grounding of a jetliner in U.S. history and set the stage for airlines and other regulators around the world to resume passenger service with the plane.
Boeing shares jumped 5.3% to $221.27 in pre-market New York trading. Through Tuesday, they had lost 50% of their value since the March 10, 2019 crash of an Ethiopian Airlines Group flight that triggered the global grounding of the 737 Max.
The FAA action is a dramatic turning point for Boeing after more than two years of bad news surrounding its best-selling model. But the aircraft’s return won’t mean an immediate end to the controversy or a … Read More