The Federal Aviation Administration has reportedly greenlit the next step in the certification process of the Boeing Co.'s (NYSE:BA) 777-9 aircraft.
Check out Boeing's current stock price here.
What Happened: The agency issued the clearance for the Washington-based aerospace giant, Jon Ostrower, editor-in-chief of The Air Current, said in a post on social media platform X on Monday.
"The FAA late last week cleared Boeing to begin the next phase of its 777-9 certification, focusing on system demonstrations, two people familiar tell TAC," he said in the post.
He added that the aircraft's certification process is now in its fourth phase and is currently going through the Type Inspection Authorization (TIA) process. A TIA is used when the FAA wants to conduct inspections and tests on aircraft to ensure they meet crucial requirements and safety standards.
Why It Matters: The news comes as Boeing aircraft got the green light from investigators following a probe into the fuel switch locks, which were found to have no issues, as part of the investigation into the June's Air India-operated 787-Dreamliner crash in Ahmedabad.
Boeing aircraft's safety has been under scrutiny following the crash and was also brought into question as investigators probed into the Jeju Air crash in South Korea, saying that pilots powering down an engine could have led to the crash.
In the meantime, the Senate confirmed the nomination of Bryan Bedford, President Donald Trump's pick to lead the FAA, despite criticism from the democrats over Bedford's nomination.
Elsewhere, Transportation Secretary Sean Duffy said that an additional $19 billion would be required over the approved $12.5 billion allocation to overhaul the aging Air Traffic Control system in the U.S.
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