Shares of Boeing (BA) surged Thursday to close at $202.38 as investors cheered the news of China’s approval regarding Boeing’s 737 Max planes. According to a CNBC report, the Chinese regulatory body, Civil Aviation Administration of China (CAAC) indicated that Boeing will have to make certain changes to the 737 Max for the plans to fly again. The report cited the CAAC statement on its website, “After conducting sufficient assessment, CAAC considers the corrective actions are adequate to address this unsafe condition.” After this news, shares of Spirit Aerosystems (SPR), which makes the fuselages for these planes, also rose.
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