The Federal Aviation Administration Wednesday gave approval for the Boeing 737 Max to carry passengers again, ending the jet’s 20-month grounding.
The plane, the best-selling jet in Boeing’s (BA) fleet, was grounded in March 2019 after two fatal crashesthat killed 346 people. It was discovered that a safety feature meant to stop the plane from climbing too fast and stalling had improperly forced the nose of the plane down, causing the crashes.
The process of approving the plane to carry passenger again has stretched on more than a year longer than originally expected, and cost Boeing more than $20 billion, according to the company. Lost orders for the jet during that time could make it among the most expensive mistakes ever made by a company.
Although approval was expected this week, Boeing(BA) shares nonetheless rose 5% in premarket trading Wednesday.