FAA unveils proposed 737 Max fixes for return to service
Proposed changes for Boeing 737 MaxThe FAA is proposing the 737 Max fixes for return to service:
- change the wiring, computers, warnings to be required
- changes to the Max would cause US carriers about $1 million
- outlines software, other changes on Boeing plane
- public has 45 days to comment on FAA's propose Max fixes
The Boeing 737 Max has been grounded since March 13, 2019. Two separate plane crashes within 5 months because the grounding of the airline. The 1st came on October 29, 2018 when Lion Air crashed about 12 minutes after take off killing all 189 passengers and crew members. The 2nd crash came on March 10, 2019 when an Ethiopian Airlines flight crashed killing all 157 passengers and crew members.
Boeing shares are currently trading up $3.76 or 2.3% at $161.76.
The shares of Boeing were at around $335 when the Lion Air crash took place.. The stock closed at $231 on March 10, 2019. The low close since that time was down around $95.