Boeing (BA) Stock Gains as China Aviation Authority Paves Way for 737 MAX Return

December 2, 2021 7:30 AM EST

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Shares of Boeing (NYSE: BA) are up over 4% in pre-open Thursday on news that the Civil Aviation Administration of China (CAAC) issued an airworthiness directive on 737 MAX.

The document paves the way for the return to service in China after 737 MAX was suspended in the first half of 2019. CAAC instructed airline operators on steps that need to be taken before they return the MAX aircraft to service.

"After conducting sufficient assessment, CAAC considers the corrective actions are adequate to address this unsafe condition," the regulator said in a statement on its website.

"The CAAC's decision is an important milestone toward safely returning the 737 MAX to service in China. Boeing continues to work with regulators and our customers to return the airplane to service worldwide,” the company responded.

Boeing shares are down over 7% YTD after the recent selloff that has pushed the BA stock price below the $200 mark again.

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