Boeing stock jumps as 737 MAX set to return in Canada, EU

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Boeing’s stock price climbed Tuesday as its beleaguered 737 MAX plane prepared to start flying again in Canada and the European Union.

Shares in the Chicago-based planemaker jumped nearly 2.8 percent to a high of $210.01 in early trading after officials signaled that the jet could return to both areas’ skies by next week.

The stock later pared the gains and was up about 2 percent at $208.35 as of 10:31 a.m.

Regulators around the world have gradually allowed the 737 MAX to return to service in recent months after a nearly two-year grounding sparked by a pair of crashes that killed 346 people in 2018 and early 2019.

Canadian officials said they will allow the planes to fly again starting Wednesday as long as they meet safety conditions that regulatory agency Transport Canada laid out last month.

The EU’s Aviation Safety Agency, meanwhile, is preparing to publish its final approval for the plane after making adjustments to a so-called draft airworthiness directive it released in November, according to executive director Patrick Ky.

“We expect to publish it next week, which means the MAX will be cleared to fly again,” Ky said in an online media briefing Tuesday.

The developments come about two months after the Federal Aviation Administration cleared the MAX — which was once Boeing’s fastest-selling jet — to start flying again following a safety review.

American Airlines operated the first commercial 737 MAX flight since its grounding, carrying passengers from Miami to New York’s LaGuardia Airport in late December.

With Post wires

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