MAX planes will remain grounded at least until April

The Boeing 737 MAX passenger jet can remain unlicensed in the US at least until April.

The flights will resume when the planes receive the new flight control version that Boeing develops. The process of imprinting the new software can take up to six weeks, depending on whether additional pilots will be needed.

The FAA decided on Wednesday to ban the flights of the MAX airplanes. The decision came after new evidence emerged that the plane crashed in Ethiopia had fallen similarly to another 737 MAX, which crashed five months ago in Indonesia.

The company is preparing a software fix to the "anti-overhanging" system, which could not be solved by the pilots of the fallen Lion Air airplane. The system then caused a sharp dash on the airplane's nose several times in a row before it finally slammed and snapped down with its nose down and crashed into the Java Sea not far from the coast of Indonesia in October 2018. The system was activated after a signal detected by a damaged sensor, without pilot intervention.

Boeing shares fell to $ 374.24 in today's session, recording eight consecutive negative sessions.

Source: Bloomberg Finance L.P.

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