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https://www.cnbc.com/2024/01/24/boeing-737-max-faa-halts-production-expansion-oks-inspection-instructions.html
Submission: On January 26 via manual from US — Scanned from US
Submission: On January 26 via manual from US — Scanned from US
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<div>If Jim Cramer were running a hedge fund, he would make these short-term trades on China’s bank stimulus</div>
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Skip Navigation * watchlive FAA halts Boeing 737 Max production expansion, but clears path to return Max 9 to service * watchlive CREATE FREE ACCOUNT Markets * Pre-Markets * U.S. Markets * Currencies * Cryptocurrency * Futures & Commodities * Bonds * Funds & ETFs Business * Economy * Finance * Health & Science * Media * Real Estate * Energy * Climate * Transportation * Industrials * Retail * Wealth * Sports * Life * Small Business Investing * Personal Finance * Fintech * Financial Advisors * Options Action * ETF Street * Buffett Archive * Earnings * Trader Talk Tech * Cybersecurity * Enterprise * Internet * Media * Mobile * Social Media * CNBC Disruptor 50 * Tech Guide Politics * White House * Policy * Defense * Congress * Equity and Opportunity CNBC TV * Live TV * Live Audio * Business Day Shows * Entertainment Shows * Full Episodes * Latest Video * Top Video * CEO Interviews * CNBC Documentaries * CNBC Podcasts * CNBC World * Digital Originals * Live TV Schedule Watchlist Investing 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Accounts * Best Roth IRA Accounts * Best Investing Apps * Best Free Stock Trading Platforms * Best Robo-Advisors * Index Funds * Mutual Funds * ETFs * Bonds * USA * INTL * watchlive Search quotes, news & videos Watchlist SIGN IN Create free account FAA halts Boeing 737 Max production expansion, but clears path to return Max 9 to service * watchlive CREATE FREE ACCOUNT Markets Business Investing Tech Politics CNBC TV Watchlist Investing Club PRO Menu Airlines FAA HALTS BOEING 737 MAX PRODUCTION EXPANSION, BUT CLEARS PATH TO RETURN MAX 9 TO SERVICE Published Wed, Jan 24 20246:08 PM ESTUpdated Thu, Jan 25 20244:12 PM EST Leslie Josephs@lesliejosephs WATCH LIVE ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Key Points * The Federal Aviation Administration said it would halt any Boeing 737 Max production expansion. * The FAA also cleared 737 Max 9 inspection instructions, paving the way for the planes to be ungrounded in the coming days. * The FAA grounded the jets after a door panel blew out on a Alaska Airlines flight earlier this month. In this article * BAUNCH * UALUNCH * ALKUNCH Follow your favorite stocksCREATE FREE ACCOUNT Alaska Airlines N704AL is seen grounded in a hangar at Portland International Airport in Portland, Oregon, on Jan. 9, 2024. Mathieu Lewis-rolland | Getty Images The Federal Aviation Administration on Wednesday halted Boeing’s planned expansion of its 737 Max aircraft production, but it cleared a path for the manufacturer’s Max 9 to return to service in the coming days, nearly three weeks after a door plug blew out during an Alaska Airlines flight. “Let me be clear: This won’t be back to business as usual for Boeing,” said FAA Administrator Mike Whitaker in a statement Wednesday. “We will not agree to any request from Boeing for an expansion in production or approve additional production lines for the 737 MAX until we are satisfied that the quality control issues uncovered during this process are resolved.” close dialog The top moments in business and politics - wrapped with exclusive color and context - right in your ears Listen Now close dialog Boeing has been scrambling to ramp up output of its best-selling aircraft as airlines clamor for new jets in the wake of the Covid-19 pandemic. “We will continue to cooperate fully and transparently with the FAA and follow their direction as we take action to strengthen safety and quality at Boeing,” the company said in a statement. Boeing shares fell 5.7% on Thursday, while the broader market rose. The FAA on Wednesday also said it approved inspection instructions for the Max 9 aircraft. Airlines had been awaiting that approval to review their fleets to return those planes to service. The FAA grounded the 737 Max 9 planes after a fuselage panel blew out as Flight 1282 climbed out of Portland, Oregon, on Jan. 5. The grounding forced United Airlines and Alaska Airlines, the two U.S. airlines with the planes, to cancel hundreds of flights. Alaska said it would resume 737 Max 9 flights on Friday “with more planes added every day as inspections are completed and each aircraft is deemed airworthy.” United plans to return the planes to service beginning on Sunday, according to a message to employees from Chief Operating Officer Toby Enqvist. “In the days ahead, our teams will continue to proceed in a way that is thorough and puts safety and compliance first,” Enqvist said in the internal message. The CEOs of both carriers have expressed frustration with Boeing after the issue, the most serious in a recent spate of apparent manufacturing flaws on Boeing aircraft. The aircraft on the Alaska flight was delivered late last year. The FAA is investigating Boeing’s production lines after the Alaska flight. Whitaker told CNBC on Tuesday that the FAA will keep “boots on the ground” at Boeing’s factory until the agency is convinced quality assurance systems are working. He said the agency is switching to a “direct inspection” approach with Boeing. Boeing’s CEO Dave Calhoun met with senators on Capitol Hill this week, at his request, to discuss the issue. Sen. Maria Cantwell, D-Wash., chair of the Senate Commerce Committee, met with Calhoun on Wednesday and said she plans to call hearings to “investigate the root causes of these safety lapses. “The American flying public and Boeing line workers deserve a culture of leadership at Boeing that puts safety ahead of profits,” she said in a statement. Don’t miss these stories from CNBC PRO: * The S&P 500 is officially in a bull market now. Here’s how long they typically last * The early winner in the bitcoin ETF race has raked in $1 billion * Goldman Sachs names its top stocks for 2024, including this solar company * CD rates are coming down. Here’s where you can lock in yields of nearly 5% for 2 years * Buy the dip in these bitcoin mining stocks over the next two months, Bernstein says Trending Now 1. 10 companies that will let you work from anywhere and are hiring right now—some jobs pay over $100K 2. Shein rejects Amazon ‘clone’ talk as it prepares for U.S. listing 3. 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Back Button COOKIE LIST Search Icon Filter Icon Clear checkbox label label Apply Cancel Consent Leg.Interest checkbox label label checkbox label label checkbox label label Confirm My Choice close dialog If Jim Cramer were running a hedge fund, he would make these short-term trades on China’s bank stimulus READ MORE close dialog close dialog If Jim Cramer were running a hedge fund, he would make these short-term trades on China’s bank stimulus READ MORE close dialog