Boeing announced on Wednesday local time that the U.S. Federal Aviation Administration (FAA) has approved the company to begin certification flight testing of the 737 MAX 10 model, the largest version of Boeing's best-selling jet, aiming to further increase its advantage in the narrow-body market. After the news was released, Boeing's stock price rose by 1.5%, as investors welcomed the progress of the project. The stock has gained 15% this year, with rival Airbus up 21% over the same period.
Subsequently, the FAA confirmed that it had granted "type inspection authorization" to the 737MAX10 model. Type inspection authorization is typically associated with the initiation of certification flight testing, a decision made after the FAA reviews technical data. A memo sent by Boeing to employees shows that after Boeing conducted more than 400 test flights and nearly 1,000 hours of flight time on the 737 MAX 10, FAA pilots were able to participate in flight tests to prove that the aircraft can operate normally.
"This is an important milestone as we work to get the 737 MAX 10, the largest aircraft in the 737 MAX family, certified for passenger service by operators around the world," said Mike Fleming, Boeing's senior vice president of development programs.
The 737MAX10 was first shipped from the factory in 2019 and is the last model among the different models of the Max family to leave the factory. However, after two fatal crashes, various certifications of the Max model were delayed, and Boeing did not conduct the first flight of the 737 Max 10 until mid-2021.
Boeing said certification is scheduled for 2024 and that it will "follow the FAA's leadership and direction" throughout the process and should deliver the first aircraft in 2024.
The 737 MAX 10 has already received nearly 1,000 orders, pitting it against Airbus's A321neo, which has received thousands of orders and is now the most popular model in the Airbus A320 family as customers shift to larger jets.
American aviation giant Delta Air Lines announced last year that it had signed a contract with Boeing to purchase 100 Boeing 737 Max 10s. It is reported that the purchase amount is approximately US$13.5 billion, and there are also option contracts to purchase 30 more aircraft of the same type in the future.
Compared with the retired Boeing 747, the fuel efficiency of the Boeing 737 Max 10 has been improved by 20% to 30%. Airlines including United Airlines, Delta Air Lines and Southwest Airlines are counting on the new 737 MAX aircraft to expand their flight networks and reduce fuel costs.
Currently, the A321neo has an overwhelming sales lead because its longer range provides airlines with a cheaper alternative to the wide-body aircraft that have traditionally flown across the North Atlantic. But on shorter routes, the 737MAX10 can still compete with the A321neo.