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1/21, 9:20 PM (Source: TeleTrader)
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FAA: No timeframe for 737 MAX relicensing

Boeing's 737 MAX plane will not be allowed to fly before mid-2020, the Federal Aviation Administration confirmed in a statement on Tuesday, saying that it has "set no timeframe for when the work [on reissuing 737 MAX license] will be completed."

"The agency is following a thorough, deliberate process to verify that all proposed modifications to the Boeing 737 Max meet the highest certification standards," the national regulator added.

Boeing's stock slipped 4.78% to 308,88 per share at 3:01 pm ET and has even stopped trading at one point following the report about the FAA pushing back the relicensing date.

Breaking the News / GG