The Federal Aviation Administration said on Wednesday that is has found an issue with the Boeing 737 Max that the manufacturer must address before it lifts the grounding order. The company's stock price dipped slightly following the news.
Shares of the aerospace company dropped more than 1% following the news, but closed the day up.
American Airlines Group Inc. Boeing Co. 737 Max planes sit parked outside of a maintenance hangar at Tulsa International Airport in Tulsa, Oklahoma, U.S., on Tuesday, May 14, 2019.The Federal Aviation Administration said on Wednesday that is has found an issue with the"The FAA is following a thorough process, not a prescribed timeline, for returning the Boeing 737 Max to passenger service.
The issue was discovered during a simulator test last week, Reuters reported. The 737 Max has been grounded since March after two deadly crashes involving the plane. Regulators around the world have pointed to a software issue as a potential cause of the accidents.Boeing did not immediately return request for comment from CNBC.
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