Boeing shares jumped over 6% on Friday after the Federal Aviation Administration confirmed the embattled 737 Max will be evaluated next week, including a test flight piloted by FAA Administrator Steve Dickson.
|BA||THE BOEING CO.||239.22||-3.05||-1.26%|
The following information, obtained by FOX Business, was distributed to members of Congress late Friday after the Joint Operations Evaluation Board (JOEB) concluded its review of the jet.
"FAA Administrator Steve Dickson and FAA Deputy Administrator Dan Elwell will be in Seattle next week to take the recommended training that the JOEB evaluated. Following the simulator training, Administrator Dickson is tentatively scheduled to pilot a Boeing 737 MAX on September 30, 2020, fulfilling his promise to fly the aircraft before the FAA approves its return to service."
The documentation also noted, "The FAA will not approve the plane for return to passenger service until it is satisfied that all of the known issues have been adequately addressed."
Earlier in the day, Europe's top regulator signaled that the jet could return to service before the end of this year.
The jet was grounded in March 2019, following two crashes that killed 346 people.
The fallout from the crisis, in addition to the human toll, cost then CEO Dennis Muilenburg his job last December. He was replaced by David Calhoun.
Boeing shares have lost over 62% during the past 12 months as demand for global travel came to a virtual halt as a result of the COVID-19 pandemic.