US regulators approved Boeing’s 737 Max 10, a crucial milestone in the company’s efforts to restore profitability after years of crises. US transportation secretary Sean Duffy said the Federal Aviation Administration had certified the long-anticipated Max 10, a single-aisle airliner that is carrying Boeing’s hopes of a return to profitability following fatal crashes in 2018 and 2019. Boeing needs the Max 10, the longest variant of the 737, to help it take on European rival Airbus in the lucrative narrow-body segment of the market.
The model accounts for more than 50 per cent of all of the company’s 737 Max orders since 2020. The Max programme comprises more than 70 per cent of Boeing’s order backlog of almost 7,000 jets. Airlines are eager to get their hands on the new model, which carries more passengers and improves the profitability of each flight, as they wrestle with elevated jet fuel costs triggered by the Iran conflict.
Big carriers including Alaska, American, United and Ryanair have been waiting for years for the Max 10 to be certified. Final certification was delayed last month after regulators identified a software glitch, but the FAA concluded the setback did not constitute a safety issue.
Source: Financial Times Companies · Summarized by HeadlinesBriefing