SpiceJet rallies 8% on plans to induct 16 Boeing 737-800 aircraft

What Boeing Looked Like The Last Time It Went A Month Without Selling A 737

The suit, which seeks damages for alleged securities fraud violations, said Boeing's market value plunged by almost US$20 billion after an Ethiopian Airlines jet crashed shortly after take off on March 10, killing all 157 on board.

The US Federal Aviation Administration (FAA) announced Thursday it would meet with American commercial airlines that use the Boeing 737 MAX, which has been grounded worldwide since mid-March following two accidents that killed 346 people.

Speaking in public for the first time since the Ethiopian Airlines crash, Muilenberg told a conference in Dallas, Texas that Boeing has conducted 96 test flights of the modified 737 MAX and the pilots have taken part in more than 159 hours of tests.

As per a BSE filing, the company will induct 16 Boeing 737-800 NG aircraft on dry lease in the next ten days after regulatory approvals.

He added that he had been on board one test flight in Seattle and that the software update "functioned as designed".

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Dennis Muilenburg also said Thursday that the company has met with pilots and airline officials in the US and overseas, holding flight-simulator sessions to demonstrate the software changes. In that crash and an October crash in Indonesia, faulty information from a sensor caused anti-stall automation to kick in and push the plane's nose lower.

Muilenburg, who spoke at a leadership forum in Dallas, said Boeing representatives have met with pilots and airline officials in the USA, the United Kingdom, Singapore and China to discuss the changes it is making.

According to Boeing, aircraft orders from January through March saw a massive decline to 95 jets in contrast to the 180 ordered a year earlier, with no orders for the 737 MAX following the grounding across the globe.

Boeing stocks took a tumble on Monday after the company put out a statement admitting to fault in the deadly crashes.

Muilenburg said the software update would make the 737 MAX safe by preventing erroneous sensor readings from triggering an anti-crash system known as the Maneuvering Characteristics Augmentation System (MCAS). Boeing has said its planes are equipped with "all critical features" necessary for safety. It has said it will provide two features missing in the two crashed planes free of charge.

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