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Boeing 737 MAX 10 N27751 at rollout ceremony in Renton, Washington
Photo: MigFlug

Boeing Stock Falls 7% as FAA Blocks 737 Max 10 Certification

Bloomberg2 min read6 sources

Why is Boeing stock down today?

Boeing (BA) stock fell 7% to $184.39 on Monday after the FAA refused to certify the 737 Max 10 due to a Flight Management Computer software glitch that knocks out VNAV during missed approaches.

Key numbers

BA closing price$184.39-6.9% on the day
Market cap$145.7Bdown roughly $10.7B on the day
Max 10 firm orders1,431 jetsall undelivered — zero certified deliveries to date
Share of Boeing backlog at risk~31%of Boeing's total undelivered commercial order book
Earliest permanent software fix2028Boeing's stated target; airlines pressing for earlier date (per [4])
Boeing revenue (TTM)$94.0B+24.8% year over year

What happened

Boeing (BA) stock fell 7% to $184.39 on Monday after the FAA refused to certify the 737 Max 10 due to a Flight Management Computer software glitch that knocks out VNAV during missed approaches. The FAA convened a Corrective Action Review Board and will not approve the jet until the issue is resolved. The defect, in software versions 14 and 14.1, causes the vertical navigation system to drop out after a pilot aborts a landing and edits the flight plan, forcing the crew to manage altitude manually at a high-workload moment. Boeing knew of the problem since November 2024 but did not notify airlines until late August 2026. The Max 10 has 1,431 firm orders, all undelivered.

Why it matters

The 737 Max 10 is Boeing's largest narrowbody and most commercially critical undelivered product, with 1,431 planes on order representing roughly 31% of Boeing's entire unfilled jet backlog. A permanent fix is not expected until 2028, meaning airlines such as United, Ryanair, and Alaska face years of delayed fleet expansion — handing rival Airbus more time to fill those gaps. The delay also reignites questions about Boeing's safety culture: the company sat on the software defect for nearly two years before warning its own customers.

Who this affects

Marketbearish
High impact
Aerospace ETFs fell as Boeing hit a multi-month low.
Companybearish
High impact
Boeing faces frozen Max 10 deliveries and eroded investor trust.
Competitorsbullish
Medium impact
Airbus gains as airlines reconsider delayed Max 10 orders.
Industrybearish
Medium impact
FAA signals stricter software certification for all new aircraft.

Boeing vs Airbus, GE Aerospace

BoeingBA$145.7B-6.9%—183x$94.0B
AirbusAIR.PA€152.8B+0.4%+40%24x€77.0B
GE AerospaceGE$339.4B—+6.1%39x—

As of 2026-09-28

How we got here

  1. First airline reports VNAV disengagement issue to Boeing

  2. Boeing concludes glitch poses no immediate safety concern

  3. 737 MAX 7 receives FAA type certificate; MAX 10 expected next

  4. Boeing notifies all 737 operators of FMC software problem

  5. FAA refuses MAX 10 type certificate, convenes CARB review board

What to watch

  • FAA CARB ruling on whether glitch is a safety-of-flight issueQ4 2026
  • Boeing accelerated fix timeline to beat 2028 target under airline pressureQ4 2026
  • Southwest and United delivery acceptance pace for unaffected-software aircraft2027-01-01

Educational content only. Not investment advice.

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