Boeing Stocks Plummet as FAA Delays 737 MAX 10 Certification
Boeing's shares plummeted by 6.3% on Monday as the U.S. Federal Aviation Administration (FAA) delayed certification of the company's long-delayed 737 MAX 10 aircraft.
The delay is due to a newly disclosed software issue that could prevent pilots from accessing automated flight guidance during a specific landing scenario.
Boeing had informed operators about the issue on Saturday and was developing a software update to permanently address it.
The FAA Administrator, Bryan Bedford, stated that they will be delaying the certification of the 737 MAX 10 until they are satisfied that there is no issue with the software.
Bedford also mentioned that the software was supplied by GE Aerospace and suggested that a fix could be developed relatively quickly due to the focus on it.