4/16, 8:40 PM (Source: TeleTrader)
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FAA: Boeing 737 MAX software update suitable

Boeing's new MAX 737 software update is "operationally suitable," a draft report of the Federal Aviation Administration's (FAA) said.

The FAA Flight Standardization Board noted that the Maneuvering Characteristics Augmentation System (MCAS) does require more training for pilots, but that it does not necessarily require flight simulators. The investigation started after countries grounded the Boeing 737 MAX following two crashes in six months. The MCAS anti-stall system was blamed for the disasters that killed around 300 people.

CEO Dennis Muilenburg stated earlier that the company is prepared to do everything to "ear and re-earn" trust of airline customers. Boeing stocks jumped after the news of the FAA report, increasing 1.31% to go for $380.33 per share at 2:23 pm ET.

Breaking the News / VP