Shares of the industrial giant are trading lower this morning after the Federal Aviation Administration said it found yet another issue with the plane maker's 737 MAX software that could delay its return to service even further.
In a statement published late Wednesday Boeing said, "The safety of our airplanes is Boeing's highest priority. During the FAA's review of the 737 MAX software update and recent simulator sessions, the FAA identified an additional requirement that it has asked the company to address through the software changes that the company has been developing for the past eight months." They continued on, "Boeing agrees with the FAA's decision and request, and is working on the required software."
Also on Wednesday U.S. carrier United Airlines (UAL) - Get United Airlines Holdings, Inc. Report , said that it will pull all MAX aircraft from its summer schedule, resulting in around 3,200 cancellations over July and August, and doesn't expect Boeing's flagship plane to return until at least September 3, echoing a similar assessment from Southwest Airlines (LUV) - Get Southwest Airlines Co. Report earlier this month.
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