A software glitch affecting Boeing 737 Max aircraft was determined not to pose a safety concern by a Federal Aviation Administration panel, a positive outcome for the U.S. planemaker seeking regulatory approval for the largest variant of the popular narrowbody family. The FAA’s Corrective Action Review Board made the determination “because pilots retain full control of the aircraft and the indications to the flight crew are clear and unambiguous,” the agency said in a statement. The FAA said it will consider further actions as needed.
Boeing shares pared a gain of as much as 2.4% in intraday trading to close up 0.7% on Friday. The stock has fallen 11% this year, trailing the 13% advance in the S&P 500 Index.
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