Boeing: 737 Max software fix complete

Boeing: 737 Max software fix complete
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Boeing on Thursday said that it has completed development of a software update to address the issues that have been blamed for two crashes involving the company's 737 Max jets that left more than 300 people dead.

In a statement obtained by CNBC, CEO Dennis Muilenburg said that the company was preparing for a final certification of the software update, after which it would begin rolling out the software to fleets of 737 Max jets that have been grounded worldwide since the crashes.

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“With safety as our clear priority, we have completed all of the engineering test flights for the software update and are preparing for the final certification flight,” Muilenburg said, according to CNBC.

“We’re committed to providing the FAA and global regulators all the information they need, and to getting it right. We’re making clear and steady progress and are confident that the 737 MAX with updated MCAS software will be one of the safest airplanes ever to fly," he continued.

"The accidents have only intensified our commitment to our values, including safety, quality and integrity, because we know lives depend on what we do.”

The company must have the jets reapproved by the Federal Aviation Administration after the U.S. became the last of more than a dozen countries around the world to ground the planes. Most aviation authorities will be looking to the agency for guidance on certification.

Boeing officials told CNBC that the updated software has flown 207 test flights for 360 hours, and that the company has completed training materials for pilots expecting to fly the  aircraft.

Shares of Boeing stock traded up on the news, rising more than 2 percent following Muilenburg's announcement.