- Boeing Co (NYSE:BA) has earned Congress’ backing to cancel new safety standard deadline for its 737 MAX aircraft.
- The December 27 deadline, Reuters reported, was imposed by Congress in 2020 in response to the two fatal 737 MAX crashes.
- The deadly crashes in Indonesia and Ethiopia killed 346 people.
- Boeing had been lobbying for the waiver for months as it had bagged more than 1,000 orders for its best-selling MAX.
- Congress is expected to approve the legislation for the waiver this week.
- Congress was caught between those who supported the waiver citing fears of job cuts, and the families of the crash victims who opposed any such decision.
- Faulty sensor data had erroneously activated a software function, MCAS, which played an important role in the crashes.
- The report noted that the bill would allow the new MAX variants to have the same alerting systems as the MAX 8 and MAX 9 currently in service.
- Price Action: BA shares are trading higher by 0.09% at $185.85 in premarket on the last check Tuesday.
- Photo Via Company
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