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The takeoff ban on Boeing’s 737 Max aircraft has been lifted after more than a year and a half. One of the prerequisites is the installation of new control software on the aircraft, as announced by the US Flight Control FAA. The US group’s share reacted to the news with a price jump of almost six percent. hundred.
The crisis plane was withdrawn from circulation in March 2019 in two crashes with a total of 346 deaths. The main cause of the accidents was considered to be a faulty control program. Boeing really wanted to fix the problems after the first accident. But there were other shortcomings, so it finally took the FAA about 20 months to lift the 737 Max’s flight ban.
Europe’s aviation authority EASA announced in mid-October that the 737 Max was safe enough again and signaled its approval of a new registration. Experts anticipate that European and other international supervisory authorities will also quickly give permission to take off again after the FAA’s decision. In addition to EASA, supervisors from Canada and Brazil had already cooperated with the FAA on parts of the reauthorization process.
It will still take a while before the 737 Max can fully start working again. First, maintenance work and pilot training must be completed.
The 737 Max disaster also put Boeing under heavy financial pressure. Airbus’ archrival was no longer able to deliver the 737 Max, its best-selling model until accidents, to customers since spring 2019 due to flight bans. Numerous orders were canceled and Boeing incurred billions in additional costs.
In the three months to the end of September, the fourth consecutive quarterly loss was incurred. The group is reacting to the difficult financial situation with drastic cost cutting measures and wants to reduce its number of employees to around 130,000 by the end of 2021. At the beginning of 2020, the group still had around 160,000 employees.
The American aviation giant faces tough times in other ways, too. The corona pandemic, which paralyzed much of air traffic and put many airlines in financial distress, is likely to put a strain on the company for longer. The group expects a dry streak in demand for planes. Boeing estimates that it will take about three years to return to 2019 levels. It will take five years or more for the aviation industry to return to its long-term growth trend.
