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Boeing jumps 6% after its 737 Max plane receives FAA approval to fly again

November 18, 2020


Boeing reached a big milestone on Wednesday after the Federal Aviation Administration officially approved the ungrounding of the 737 MAX airplane.

The move came 20 months after the initial grounding in March 2019 following two deadly crashes that shook both regulators and consumers confidence in the plane.

Shares of Boeing soared as much as 6% on Wednesday following the development.

According to a statement from the FAA, “FAA employees worked diligently to identify and address the safety issues that played a role in the tragic loss of 346 lives aboard Lion Air Flight 610 and Ethiopian Airlines Flight 302.”

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