After two deadly crashes that took 346 lives and a worldwide grounding that lasted almost two years, the U.S. Federal Aviation Administration and regulators across the world are giving the Boeing (NYSE:BA) 737 Max jets the green light to fly again.
In the U.S., Boeing has been investigated by both chambers of Congress and well as the Justice Department and the Securities and Exchange Commission into software updates, certification, pilot training and more.
One of the most controversial topics in those investigations is the idea of self-regulation and certification.
Boeing employees were able to certify some aspects of the Boeing 737 Max plane, but that sort of self-regulation is not uncommon in much of the federal government, especially when it comes to agencies that regulate a single industry, like the FAA and its Organization Designation Authorization.
After grueling hearings on Capitol Hill, the day before the final ruling from the FAA, the House unanimously passed a bill by voice vote that reforms the plane certification process.
The bill, among other things, requires an expert panel to evaluate safety culture and recommend improvements and mandates aircraft manufacturers to adopt safety management systems and to complete system safety assessments for significant design changes. The bill awaits a vote in the Senate.
Some consumers are still concerned that the extensive recertification process and changes to software and company culture are not enough. Airlines are allowing free flight changes to passengers worried about the Boeing 737 Max, and the company is fighting to repair its reputation.
BA shares opened Wednesday airborne $2.24 to $238.81