On Wednesday local time, Boeing announced that the Federal Aviation Administration (FAA) of the United States has approved the company to begin certified flight testing of the 737 MAX 10 model, which is the largest version of Boeing's best-selling jet aircraft and aims to further enhance its advantage in the narrow body aircraft market.
After the news was released, Boeing's stock price rose by 1.5%, and investors welcomed the progress of the project. The stock has risen by 15% this year, while its competitor Airbus has risen by 21% over the same period.
Subsequently, FAA confirmed that the 737 MAX 10 model had been granted a "model inspection authorization". Type inspection authorization is usually related to the initiation of certification flight testing, and a decision is made after FAA has reviewed technical data. According to a memo sent by Boeing to employees, after Boeing conducted over 400 test flights of the 737 MAX 10 and flew for nearly 1000 hours, FAA pilots were able to participate in flight tests to prove that the aircraft could operate normally.
Mike Fleming, Senior Vice President of Development Projects at Boeing, said, "This is an important milestone as we are striving to obtain passenger service certification from global operators for the 737 MAX 10, the largest aircraft in the 737 MAX family
The 737 MAX 10 was first released in 2019 and is the last model in the Max family to be released. But after two fatal crashes, the Max model postponed various certifications, and Boeing did not make its first flight of the 737 Max 10 until mid-2021.
Boeing stated that the certification program will take place in 2024, and throughout the process, it will "follow the leadership and command of FAA" and should deliver the first aircraft by 2024.
The 737 MAX 10 has received nearly 1000 orders, benchmarking against Airbus' A321neo model, which has already received thousands of orders. As customers shift towards larger jet aircraft, it is now the most popular model in the Airbus A320 series.
Last year, American aviation giant Delta Airlines announced that it had signed a contract with Boeing to purchase 100 Boeing 737 Max 10 aircraft. It is reported that the procurement amount is about 13.5 billion US dollars, and there are also option contracts to purchase 30 similar aircraft in the future.
Compared to the retired Boeing 747, the fuel efficiency of the Boeing 737 Max 10 has increased by 20% to 30%. Airlines including United Airlines, Delta Airlines, and Southwest Airlines are all hoping to expand their flight network and reduce fuel costs with the new 737 MAX aircraft.
Currently, the A321neo has gained an overwhelming sales lead because of its longer range, providing airlines with a cheaper option to replace traditional wide body aircraft that span the North Atlantic. But on shorter routes, the 737 MAX 10 can still compete with the A321neo.