Boeing gains amid 737 MAX first flight since grounding

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Boeing (BA.US) shares gained slightly as Boeing’s 737 MAX will fly American Airlines passengers from New York to Miami today. It will be the first US flight since the grounding in March 2019 after two fatal crashes. The US Federal Aviation Administration cleared the 737 MAX for service on November 17 - FAA Administrator Steven Dickson claimed he was “100% confident” in the safety of the aircraft. Meanwhile, United Airlines said it expects to resume flights of the MAX jet on February 11.

Boeing share price remains stuck near the 50% Fibonacci retracement of February-March sell-off. Stock tends to be volatile at times and any further news on firm’s troubled jets might trigger some bigger moves. Price has fallen roughly 10% from its recent post-pandemic highs. Source: xStation5

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