U.S. aviation regulators signed off on Boeing's 737 Max 10, wrapping a drawn-out approval process for the company's narrowbody lineup. The Max 10 is the largest member of the family and Boeing's answer to Airbus's A321neo.
It is also a key commercial play. The jet ranks among Boeing's more heavily ordered Max variants with more than 1,500 commitments, including from United Airlines Holdings Inc. and Alaska Air Group Inc. The smaller 737 Max 7 gained Federal Aviation Administration approval in August.
FAA Administrator Bryan Bedford said in a statement, "The FAA's decision follows a thorough review of the aircraft's design and safety requirements," adding the agency will "continue to hold Boeing to the highest safety standards" going forward.
In July, Bloomberg said the FAA was expected to give the Max 10 its certification in or near October. The schedule slipped temporarily when Boeing revealed a software issue linked to the airplane's navigation system; however, a panel at the FAA determined the problem did not pose a safety hazard.
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Among Boeing's latest models, the Max 10 ranks as a pivotal jet, offering carriers a successor to the out-of-production 757. Together with the other Max versions, Boeing anticipates the biggest variant will bolster its balance sheet and reduce debt.
Specs matter for airline economics too. The jet accommodates as many as 230 travelers and has a range of 3,100 nautical miles, per Boeing's website. The bottom line: approval puts a high-capacity, long-range single-aisle back on the table for carriers with big order books attached.
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