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Is Boeing (BA) Stock a Buy Ahead of FAA Announcement?

18 May 2019

The plane model was grounded in many countries around the world after the Ethiopian Airlines crash, including in the USA - despite Boeing's insistence on the airworthiness of the jet.

To date, Boeing had flown the 737 Max with the updated software for more than 360 hours on 207 flights, the company said.

Boeing said the FAA has asked for additional information before it will conduct a certification flight, including details on how pilots interact with the airplane controls and displays in different flight scenarios.

On Wednesday, the House Committee on Transportation and Infrastructure questioned Federal Aviation Administration chief Dan Elwell and National Transportation Safety Board Chairman Robert Sumwalt about the planes after airlines throughout the world grounded the 737 Max in the wake of two crashes that killed almost 350 people in Indonesia and Ethiopia.

Boeing claims its update for the 737 Max software has been completed.

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Boeing now awaits approval from the Federal Aviation Administration (FAA), which must fly a certification flight and also review all the manufacturer's documentation on the changes made to the flight-control system before the MAX can be recertified and cleared to reenter commercial service.

"We will not allow the 737 MAX to fly in the United States until it is absolutely safe to so", he said. Between the two crashes, 346 people died.

The FAA, global regulators, and airline customers were also reviewing enhanced training and education material developed by Boeing to support the 737 MAX's longer-term operations after returning to service.

Boeing engineers have been working on the software update for more than six months - far longer than they expected - having started shortly after the October 29 crash of a Max operated by Indonesia's Lion Air.

Boeing's 737 MAX series planes are considered to be the most advanced and fuel-efficient single-aisle jets.

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Last week, Seifman met with Boeing management with a focus, obviously, on the 737 Max.

Worldwide regulators are meeting on May 23 to review Boeing software and training plans, though doubts remain over how quickly foreign authorities will clear new flights.

In certain circumstances, however, it is thought that the system caused a Boeing 737 MAX from Lion Air and one from Ethiopian Airlines to crash into the ground.

Pilots are expected to undergo extra training on the new system once it receives certification.

"I would call it the beta version", Lawrence said. Critics say Boeing rushed the design of the Max; the company disputes that. "We don't know what training is like for Lion Air pilots or Ethiopian pilots".

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Aviation regulators from other countries will have to assess Boeing's proposed fixes and clear the aircraft to fly in regions independently of the FAA.

Is Boeing (BA) Stock a Buy Ahead of FAA Announcement?