Monday, February 26, 2024

Boeing withdraws waiver request to speed up approval of 737 Max 7

Boeing Co. started the year on the wrong foot after the accident that occurred in a section of the fuselage of Alaska Airlines’ 737 Max 9. After this, the company decided to withdraw the safety exemption request to speed up the approval of the 737 Max 7, according to Sylvia Pfeifer and William Sandlund of the Financial Times.

The US planemaker is under increasing pressure to withdraw its application for the 737 Max 7 after an explosion in a section of the fuselage of an Alaska Airlines plane earlier this month.

The incident, involving the Max 9 model, dealt a severe blow to Boeing’s reputation and raised a number of safety and quality control issues at the company.

Last week, Illinois Sen. Tammy Duckworth urged the Federal Aviation Administration, the aviation safety regulator, not to certify the Max 7, based on concerns that the waiver request, if granted, would endanger passengers.

The recall calls into question whether the Max 7, the smallest model, will be certified by the FAA, as Boeing is working on a permanent design change. Investors expect the Max 7 to be certified in the first half of this year before being delivered to its first customer, Southwest Airlines. The recall may also affect the certification schedule for the larger Max 10.

Boeing requested the temporary waiver last year after a fault was found in the plane’s engine anti-icing system. The FAA agreed to an interim solution while Boeing works on a permanent solution, which it promises will be ready to begin deployment by the end of May 2026.

The two Max models that are already flying, Max 8 and Max 9, have since introduced an interim solution, which involves encouraging pilots to turn off the system once icing conditions are clear to avoid excessive heat

Before the Alaska Airlines incident, Boeing, which reported its full-year results on Wednesday, was expected to set new financial and delivery targets for this year. Attention will now focus on how to prevent the consequences of the crisis. Boeing shares have fallen 20% since the start of the year.

The National Transportation Safety Board’s preliminary report on the Alaska incident is also expected to be released this week.

Boeing Withdraws Waiver Request To Speed Up Approval Of 737 Max 7

Boeing Co. closed Tuesday’s session in the red at $200.15. The 70 and 200 period moving averages are above the last four candles, the RSI fell by 42 points, and the MACD lines are below the zero level.

Medium-term support is at $189.61. Meanwhile, the Ei indicators are mixed.

World Nation News Desk
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