(Bloomberg) -- Operators of Boeing Co.'s 737 Max 9 have completed inspections on an initial batch of 40 planes, a key step to eventually end the grounding of the aircraft ordered by US regulators in the wake of an accident earlier this month.
The US Federal Aviation Administration will now review findings from those 40 checks to determine whether the Boeing-drafted procedures are appropriate to return the fleet of 171 parked Max 9s to service, the agency said in a statement Wednesday.
The agency ordered the grounding after a Max 9 operated by Alaska Airlines suddenly lost a fuselage section shortly after takeoff on Jan. 5, sparking a crisis in confidence in Boeing's manufacturing processes and a flurry of investigations.
“Once the FAA approves an inspection and maintenance process, it will be required on every grounded 737-9 MAX prior to future operation,” the agency said. “The safety of the flying public, not speed, will determine the timeline for returning these aircraft to service.”
Wrapping up the initial round of checks is a sign of much-needed progress for Boeing as it works to rebuild trust with regulators, customers and the flying public. Boeing rose 1% as of 9:53 a.m. in New York following the FAA's announcement, after rising much as 2.2% in earlier trading. The shares had sunk 23% this year through Tuesday's close, by far the worst performer this year on the Dow Jones Industrial Average.
Boeing Chief Executive Officer Dave Calhoun plans to visit the main campus of Spirit AeroSystems Holdings Inc. in Wichita, Kansas, later on Wednesday, where the supplier assembles a large part of 737 Max's main airframe. Calhoun will participate in a town hall gathering with Spirit employees alongside Spirit CEO Pat Shanahan and Chairman Bob Johnson.
The visit comes after Boeing announced multiple steps to bolster quality and oversight at its factories earlier this week. In the wake of the accident, United Airlines Holdings Inc. and Alaska Air Group Inc., the only Max 9 operators in the US, found loose hardware during examinations of the plane's door plugs.
The airlines have canceled hundreds of flights since the planes were ordered parked.
(Updates with shares, Calhoun visit to Spirit from fifth paragraph)
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