The crashes with 737 Max aircraft in Indonesia and Ethiopia killed a total of 346 people. After the second accident, in March 2019, flights with the aircraft were banned worldwide. It later turned out that the crashes were caused by a failing safety system, which kept pushing the nose of the aircraft down. That defect has been resolved with an update of the software.
The FAA’s approval does not mean that 737 Max aircraft will be flying again anytime soon. Airlines have to update their software and retrain the pilots, which takes at least thirty days. Southwest Airlines, which has the most copies of the aircraft, says it may take months to meet FAA requirements and does not expect to return to flight with the 737 Max before the second quarter of 2021.
The plane’s grounding cost Boeing billions, disrupted the supply chain, and led to investigations that concluded that there was a lack of transparency and proper oversight at Boeing and the FAA during the development of the 737 Max. A criminal investigation is still ongoing.
A month ago, the European aviation watchdog also approved flights with the 737 Max.
The most important financial news every morning.
Invalid email address. Please fill in again.