Reuters reveals FAA expects to approve Boeing 737 MAX for flight as soon as late June; market reacts

Reuters exclusively reported that U.S. Federal Aviation Administration representatives told members of the United Nations’ aviation agency they expect approval for Boeing’s 737 MAX jets to fly as soon as late June. This will give some visibility over an uncertain timeline for the grounded jets that are costing Boeing millions of dollars every day. Boeing’s shares pared losses as the Reuters report was published just before the market’s close and rose as much as 3% to a more than two-week high the following day. The report followed another exclusive from Reuters just hours earlier on the number of hours that airlines will have to spend to bring their 737 MAX jets out of storage and prepare them for flight once regulators give the green light.