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The FAA proposed certification reforms that could speed approvals for new commercial airplanes.

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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The Federal Aviation Administration proposed changes Thursday to modernize and speed certification
00:07of new commercial airplanes, according to Reuters. The FAA said harmonizing some requirements with
00:13the European Union Aviation Safety Agency would give manufacturers more consistent rules and
00:19reduce the cost, time, and complexity of certifications. The proposal could benefit
00:23Boeing, Airbus, Embraer, and Bombardier. FAA. Administrator Brian Bedford has pushed for
00:30reforms and said earlier this year that the agency was working with industry on ways to
00:35streamline the process. The FAA said updated airworthiness standards will reduce certification
00:40time and costs while maintaining or increasing safety. The proposal comes as the FAA and EASA
00:47move toward approving Boeing's 737, MAX 7, and MAX 10.
00:51For all things money, visit Benzinga.com.
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