U.S. Markets close in 1 hr 51 mins
  • S&P 500

    3,929.59
    -69.25 (-1.73%)
     
  • Dow 30

    33,488.22
    -458.88 (-1.35%)
     
  • Nasdaq

    10,998.32
    -241.62 (-2.15%)
     
  • Russell 2000

    1,808.88
    -31.34 (-1.70%)
     
  • Crude Oil

    73.90
    -3.03 (-3.94%)
     
  • Gold

    1,779.90
    -1.40 (-0.08%)
     
  • Silver

    22.23
    -0.19 (-0.86%)
     
  • EUR/USD

    1.0466
    -0.0032 (-0.3035%)
     
  • 10-Yr Bond

    3.5570
    -0.0420 (-1.17%)
     
  • Vix

    21.92
    +1.17 (+5.64%)
     
  • GBP/USD

    1.2142
    -0.0052 (-0.4226%)
     
  • USD/JPY

    137.0460
    +0.3610 (+0.2641%)
     
  • BTC-USD

    16,986.59
    -76.57 (-0.45%)
     
  • CMC Crypto 200

    399.78
    -2.02 (-0.50%)
     
  • FTSE 100

    7,521.39
    -46.15 (-0.61%)
     
  • Nikkei 225

    27,885.87
    +65.47 (+0.24%)
     

Approval For Boeing's 737 MAX 10 Not Expected Until Next Year: Report

  • Boeing Co (NYSE: BA) does not anticipate winning approval for the 737 Max 10 before next summer, according to a report that cited Federal Aviation Administration letter that sent intensifying concerns about the company's delivery timeline.

  • Boeing faces a December deadline to win regulatory approval for the Max 10. Unless it gains an extension from Congress, Boeing must meet new modern cockpit-alerting requirements, Reuters reports.

  • Also ReadThe Short List Of Dow Jones Stocks That Are Actually Up This Year: Hint — It's Very Short

  • "With regard to the 737-10, Boeing's current project plan timeline has the 737-10 receiving an amended type certificate no sooner than summer 2023," the report cited two sources quoting acting FAA Administrator Billy Nolen as saying in a letter to Senator Roger Wicker, the top Republican on the Senate Commerce Committee.

  • Last week, Boeing agreed to pay $200 million to settle civil charges by the SEC on missing public statements following airplane crashes in 2018 and 2019.

  • Wicker proposed extending the deadline for Boeing to win approval for the two new variants until September 2024 and hopes to attach the proposal to an annual defense bill.

  • The report said that it is unclear if Congress would be willing to approve the proposal. Nolen's letter said the FAA could not provide an estimate of when certification work will be completed for the MAX 7 or MAX 10.

  • Price Action: BA shares are up 2.26% at $128.90 during the premarket session on the last check Tuesday.

  • Photo Via Company

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.