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May 16, 2019, 3:38 p.m. EDT

Boeing says development of 737 Max software fix is complete

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By Claudia Assis

BA

Boeing Co. /zigman2/quotes/208579720/composite BA +2.43% said Thursday it has completed the development phase of its 737 Max software update, having flown the aircraft with the updated feature for more than 360 hours on 207 flights. Boeing is working on getting additional information to the Federal Aviation Administration, including requests for details on "how pilots interact with the airplane controls and displays in different flight scenarios," the company said in a statement. Once those requests are addressed, Boeing will work with the FAA to schedule a certification test flight and submit final certification documentation, it said. "We're committed to providing the FAA and global regulators all the information they need, and to getting it right. We're making clear and steady progress and are confident that the 737 MAX with updated MCAS software will be one of the safest airplanes ever to fly," Boeing Chief Executive Dennis Muilenburg said in the statement. Boeing has also developed "enhanced training and education materials that are now being reviewed with the FAA, global regulators, and airline customers to support return-to-service and longer-term operations," it said. Shares of Boeing rose nearly 3% in the last stretch of Thursday trading, bringing month-to-date losses to more than 6%. The 737 Max jets have been grounded worldwide following two fatal crashes less than five months apart that, according to preliminary reports, were linked to a faulty anti-stall feature. Boeing had been working on a software fix to take the jets to the skies again.

/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 354.09
+8.41 +2.43%
Volume: 2.86M
Dec. 6, 2019 4:10p
P/E Ratio
54.30
Dividend Yield
2.32%
Market Cap
$194.55 billion
Rev. per Employee
$660,961
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