Boeing Co (NYSE:BA) shares are trading higher Thursday. The stock appears to be getting a lift following reports that the Federal Aviation Administration (FAA) lifted its operational freeze on United Airlines Holdings Inc (NASDAQ:UAL), allowing the company to add new planes and routes.
What To Know: According to a new Bloomberg report, the FAA will allow United Airlines to take deliveries of planes and add new routes following a "careful review and discussion about the proactive safety steps United has taken to date."
The airline reportedly told employees of the new certification in a message late Wednesday seen by Bloomberg. Although the operational freeze has been lifted following a safety review, the investigation is reportedly still ongoing.
"There is more work to do, and we remain open to their perspective on things that can make us an even safer airline," United reportedly said in the message to employees.
The news comes after authorities limited the airline's growth following a series of flight incidents in recent months including a wheel that flew off of a plane shortly after takeoff and an aircraft that swerved off a runway. The entire airline industry has faced increased scrutiny since a door plug blew out of Boeing 737 Max 9 plane midflight in early January.
As a result of the investigation, United was forced to delay at least three Boeing 737 Max 9 deliveries. The lift of the operational freeze appears to be boosting Boeing shares on Thursday.
Boeing separately announced Thursday that it's testing more than 35 technologies on its ecoDemonstrator program focused on strengthening operational efficiency and sustainability in cabin interiors.
"The Boeing ecoDemonstrator program helps us make tangible improvements to our products – allowing us to reduce the environmental impacts of flying, improve the in-flight experience and strengthen the safety of our airplanes," said Stephanie Pope, president and CEO of Boeing Commercial Airplanes.
BA Price Action: Boeing shares were up 3.52% at $183.26 at the time of publication, according to Benzinga Pro.
Photo: courtesy of Boeing.