FAA Clears Boeing 737 Max Software Glitch as Non-Safety Risk

A Federal Aviation Administration panel has determined that a software glitch affecting Boeing Co. 737 Max aircraft does not pose a safety risk.

The so-called corrective action review board made this finding after reviewing the issue in certain Boeing 737 Max flight computers, the agency said in a statement.

This is a positive outcome for Boeing as it seeks regulatory approval for the largest variant of its popular narrowbody family.

Boeing's stock rose 1.6% to $195.40 as of 2:47 p.m. New York time on Friday, after the FAA panel made its determination.