Good news for Boeing (BA), FAA will issue a notice that 737 MAX planes are airworthy

NYSE: BA | Boeing Company (The) Common Stock News, Ratings, and Charts

BA – The Boeing 737 MAX, the type of plane involved in a deadly crash in Ethiopia over the weekend.

The Boeing 737 MAX, the type of plane involved in a deadly crash in Ethiopia over the weekend, is still airworthy and the Federal Aviation Administration plans to issue a notice to the international aviation community later Monday, a person familiar with the matter said.

“The FAA continuously assesses and oversees the safety performance of U.S. commercial aircraft,” the FAA said in a statement. “If we identify an issue that affects safety, the FAA will take immediate and appropriate action.”

Aviation officials in China and Indonesia ordered domestic airlines to ground their fleets of the popular Boeing single-aisle planes after the deadly crash of one operated by Ethiopian Airlines on Sunday. The 149 passengers and eight crew members on board were killed when the plane crashed shortly after takeoff.

The incident was the second deadly crash of the new Boeing planes in less than five months. A Lion Air Boeing 737 MAX 8 plunged into the Java Sea shortly after taking off from Jakarta in October, killing all 189 people on board.

U.S. airlines on Monday sought to calm concerns from travelers that the planes are safe.

While it is highly unusual to have two fatal crashes of new aircraft so close together, analysts have cautioned that it is too early to know the cause of the Ethiopian Airlines crash or whether it is at all linked to the crash of the Lion Air flight last year.

This story is developing. Please check back for updates.

Boeing Co. shares fell $0.11 (-0.03%) in after-hours trading Monday. Year-to-date, BA has gained 24.66%, versus a 11.41% rise in the benchmark S&P 500 index during the same period.

BA currently has a POWR Rating of A (Strong Buy), and is ranked #1 of 70 stocks in the Air/Defense Services category.

This article is brought to you courtesy of CNBC.

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