FAA certifies Boeing's 737 Max 10, unlocking about 30% of its 737 backlog; shares slip 0.6%

The Federal Aviation Administration on Tuesday issued certification for the Boeing 737 Max 10, the largest model in the 737 family and the last one still waiting for approval. The agency said it granted an amended type certificate, confirming the design meets requirements, plus an updated Production Limitation Record that authorizes production, according to the FAA's press release. CNBC reported the plane was originally set to start flying in 2020.

Boeing shares traded at $190.29 at 3:51 PM ET, down 0.6% from a $191.42 close, in a 52-week range of $176.77 to $254.35, according to Nasdaq. The market had largely priced the news in: the FAA's Oct. 2 ruling that a software flaw was not a safety issue had already removed the last public obstacle.

What the approval does and does not do

Certification lets Boeing deliver the jet. It does not put one in the air with passengers. Alaska Airlines has said it plans its first Max 10 delivery in spring 2027, with passenger service between April and mid-May, because it still has to certify its own head-up display, as we reported in September. CNBC noted that carriers can take months to work a newly certified plane into their schedules, and that United expects its first Max 10s in summer 2027.

The FAA also said it required the Max 10 to include improvements tied to the Aircraft Certification, Safety, and Accountability Act, including flight-control system updates with an enhanced angle-of-attack sensor.

The number behind the approval

At a Morgan Stanley conference on Sept. 16, Boeing said Max 10 orders make up about 30% of its backlog, CNBC reported. In our September story, Reuters put the figure at about 31% of undelivered 737 orders. Either way, nearly a third of Boeing's biggest program could not be delivered until today. Boeing collects the bulk of an aircraft's price at delivery, CNBC noted, which is why the approval matters to its cash flow more than to its order count.

The cash does not arrive at once. Alaska ordered 105 Max 10s and expects 22 deliveries in 2027 and 30 in 2028, per our earlier reporting of Reuters. United has 167 on order, according to its latest quarterly filing, as cited by CNBC. Those two airlines alone account for 272 jets, and they will arrive over years.

Who still has a problem

United is the clearest case. CEO Scott Kirby told CNBC in August that the lie-flat premium seats it bought for the Max 10 were sitting in storage and do not fit other aircraft, so it has to decide what the interiors will look like. Alaska says it will use the larger jet for more premium seating. For travelers, the practical effect is more seats on busy routes from 2027, not this holiday season.

What traders are watching

Boeing reports third-quarter results on Oct. 27, according to Nasdaq. The questions are how many Max 10s it can build in 2027, whether it will update delivery guidance for the 737 program, and how it accounts for the long wait. The approval removes a certification risk. It replaces it with a production-ramp one.

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Sources: FAA, CNBC, Reuters (via earlier Chronicle reporting), Nasdaq.com. Share prices are as of 3:51 PM ET on Oct. 20, 2026 and may be delayed. This is market information, not investment advice.