Story
FAA Panel Finds Boeing 737 MAX Software Glitch Poses No Safety Risk
Summary
The U.S. Federal Aviation Administration has determined a software glitch in some Boeing 737 MAX flight computers is not a safety concern, clearing a path for the certification of the larger MAX 10 model.
The U.S. Federal Aviation Administration (FAA) on Friday concluded that a software glitch affecting some Boeing (NYSE:BA) 737 MAX flight computers does not constitute a safety issue, removing a significant obstacle for the certification of the MAX 10 aircraft.
Regulator's Determination
The FAA said the decision was made by a panel of experts. Their determination was based on the fact that "pilots retain full control of the aircraft and the indications to the flight crew are clear and unambiguous," the agency stated.
This assessment directly addresses concerns that had led the regulator to pause a key part of the aircraft's approval process.
AdPath Cleared for MAX 10 Certification
This finding is a crucial development for Boeing. The FAA confirmed earlier in the week that it was delaying the certification of the 737 MAX 10 until it had completed a thorough analysis of the software issue.
With the glitch now deemed not to be a safety risk, the regulatory path is clearer for the approval of the MAX 10, a larger variant of Boeing's best-selling narrowbody airplane. This allows the final stages of the certification process to move forward.
Read next
More on Stocks
Foghorn Therapeutics Stock Extends Decline After Eli Lilly Partnership Ends
Shares of Foghorn Therapeutics plunged for a second day after the company and partner Eli Lilly terminated their collaboration, halting development of a key drug candidate and prompting a wave of analyst downgrades.
Southport Acquisition Corp. II Raises $210 Million in NYSE Debut
The special purpose acquisition company sold 21 million units at $10.00 each, including a partial exercise of the over-allotment option, with proceeds placed in a trust for a future merger.
S&P/TSX Composite Gains Nearly 1% to End Week on Strength in Materials, Tech
Canada's main stock index rose 0.99% on Friday, driven by a broad rally in the Materials, Industrials, and IT sectors. The advance was accompanied by a drop in market volatility, while key commodity prices also ticked higher.
Bovespa Index Surges 2.6% to Three-Month High in Broad-Based Rally
Brazil's benchmark Bovespa stock index closed up 2.63% on Friday, reaching its highest level in three months, driven by strong performance in the real estate and basic materials sectors. However, a rise in the market's volatility index to a three-year high indicated underlying investor caution.