FAA Panel Clears Boeing's 737 Max Software Glitch

A Federal Aviation Administration panel has determined that a software glitch affecting Boeing Co.'s 737 Max aircraft is not a safety concern, according to a statement from the agency. The so-called corrective action review board made this decision on Friday.

The issue affected certain Boeing 737 Max flight computers and was deemed 'not a safety concern' by the panel. This decision comes as a positive outcome for Boeing, which is seeking regulatory approval for the largest variant of the popular narrowbody family.

Boeing's shares rose 1.6% to $195.40 as of 2:47 p.m. New York time following the announcement. The company has been working to regain public trust and regulatory approvals after a series of issues related to the 737 Max, including two fatal crashes.