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    Boeing 737 MAX Jets Could Be Ungrounded Next Week: Report

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    Boeing 737 MAX Jets Could Be Ungrounded Next Week: Report

    Boeing Co’s (NYSE: BA) 737 MAX jets may be ungrounded next week as the United States Federal Aviation Administration is in the final stages of reviewing changes to the jet, Reuters reported Monday.

    What Happened: Three sources familiar with the matter told the newswire that the planes may be allowed back into the skies as early as Nov. 18.

    FAA Administrator Steve Dickson that the process will be “finished in the coming days, once the agency is satisfied that Boeing has addressed” safety issues related to fatal crashes that took the lives of 346 people.

    Dickson disclosed that the FAA was engaged with aviation authorities “around the world” as they prepare to validate its certification decision.

    After the FAA gives its approval, airlines will have to carry out software upgrades and fresh pilot training that could take at least 30 days, noted Reuters.

    Why It Matters: China’s aviation regulator has reportedly not yet committed a time frame for the plane’s return to service.

    Air Canada (OTC: ACDVF) CEO Calin Rovinescu said that the 737 MAX is expected to fly in the country early next year, as per Reuters.

    Europe’s chief aviation regulator said previously that the regulatory approval to resume 737 MAX flights could be given in November and the plane could take to the air by the end of the year.

    The European Union is imposing a 15% tariff on Boeing planes, which the planemaker dubbed as “disappointing and surprising,” Reuters reported separately

    American Airlines Group Inc (NASDAQ: AAL) said in October that it was planning to return 737 MAX jets to passenger service by the end of the year.

    Southwest Airlines Co (NYSE: LUV), the biggest 737 MAX operator in the world, said it would take several months to adhere to FAA requirements and it would not schedule flights with the plane until the second quarter of 2021.

    Price Action: Boeing shares closed nearly 13.7% higher at $179.36 on Monday and gained 2.2% in the after-hours session to $183.30.

     

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