Boeing’s 737 Max Gets Tentative Nod From European Regulator

Bloomberg Quicktake: Now published this video item, entitled “Boeing’s 737 Max Gets Tentative Nod From European Regulator” – below is their description.

Europe’s aviation safety regulator kicked off the process of bringing Boeing Co.’s 737 Max back into service, in a major step toward the grounded jet’s global return. The European Union Aviation Safety Agency published a proposed airworthiness directive Tuesday, laying out changes required before the aircraft can return to service. The move triggers a 28-day public consultation, putting the Max on track for final clearance by early 2021. EU approval would mark a milestone in Boeing’s effort to return the Max to service outside the U.S., following the Federal Aviation Administration’s granting of final clearance last week. Backing by European regulators would help build global support for the aircraft, after the Max crisis damaged the FAA’s reputation as the leader in air safety. “I am confident that we have left no stone unturned in our assessment of the aircraft with its changed design approach,” Patrick Ky, EASA’s executive director, said in a statement. “The result was a thorough and comprehensive review of how this plane flies and what it is like for a pilot to fly the Max, giving us the assurance that it is now safe to fly.” Boeing rose 2.8% to $217.37 at 9:33 a.m. in New York amid broad market gains. EASA expects to issue the formal decision lifting the grounding in mid-January, it said in the statement. Ky had previously said in October that he was satisfied with the changes Boeing made to the plane after two crashes within five months killed 346 people, leading to the global grounding of the 737 Max fleet in March 2019. Boeing International President Michael Arthur heralded EASA’s decision as “great news” as he spoke at a conference in Berlin, saying that it marked the beginning of the end of the road to recertification. The plane is likely to be flying before the end of the year in the U.S., Arthur said. EU approval is needed for Boeing to begin delivering the Max to customers in the region such as discount carrier Ryanair Holdings Plc. The deliveries will help the U.S. planemaker to unlock about $12 billion in cash that’s tied up in hundreds of jetliners built during the global grounding. EASA’s airworthiness directive requires nearly the same changes that the FAA has mandated, differing in two areas, the regulator said in a statement. EASA will allow pilots to disable a “stick shaker” warning if it has erroneously been activated, to prevent flight crews from being distracted, and will mandate that the plane’s autopilot system should not be used for certain landings. Transport Canada indicated last week that it was poised to lift the grounding soon. As long as the flying ban is in place in that country, U.S. airlines can’t operate the upgraded 737 over Canadian air space. Authorities in Europe, Canada and Brazil worked closely with U.S. regulators to review the technical aspects of the Max, which Stephen Dickson, administrator of the FAA, called the most scrutinized aircraft in history. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake

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