Boeing NYSE:BA is reportedly nearing FAA certification for the 737 MAX 7, a long-delayed approval that could arrive later in July and mark another step in the plane maker's safety recovery.
The MAX 7 is the smallest aircraft in Boeing's single-aisle MAX family. Boeing builds commercial jets, defense systems, satellites and aviation services, with the 737 program remaining central to its production and cash-flow recovery.
The FAA may also soon restore Boeing's authority to perform final safety signoffs on newly built 737s, according to The Wall Street Journal. The regulator withdrew that privilege in 2019 following 2 fatal MAX crashes.
Certification would bring major relief to Southwest Airlines NYSE:LUV, which has ordered 258 MAX 7 jets. Delays have forced the carrier to keep older 737-700 aircraft flying longer than planned, with those planes averaging about 20 years in age.
Boeing also opened a new 737 MAX production line in Everett, Washington, this week as it works to raise output.