CCTV Transcripts

CCTV Script 23/09/19

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— This is the script of CNBC's news report for China's CCTV on September 23, 2019, Monday.

This report from Indonesia is the first formal government finding of flaws in the design and regulator. It also identifies a string of pilot errors and maintenance mistakes, reported by the WSJ.

Boeing has not been commented on this report but said it will continue to offer support to the investigating authorities. 737Max has been grounded for more than half a year that causes huge loss to Boeing. Boeing's stock price is still not back to its pre-crash level and it is losing ground to Airbus.

The latest released report will put more negative impact on the go-around process that Boeing has been actively promoting, FAA will suffer more pressure as well. Indonesian report draft means this institution believes FAA is inescapably responsible for the crash.

There was a change at the top of the FAA after the two crashes, in mid-Aug this year, Dickson filled the position of FAA administrator which had been hang in the air for more than one year. Dickson went to Boeing's headquarter last Thursday, testing 737MAX simulator and meeting up with Boeing CEO. FAA confirmed that Boeing has to go through a series of processes, including offering more software details, so 737MAX will take some time to go-around. Before headed to Boeing, Dickson said in an interview with CNN that FAA needs to be "humble" about areas for improvement after approving the Boeing 737 MAX. He also told CNBC that he is the final signoff authority and he is not going to sign off on the aircraft until he would fly it by himself.

According to WSJ, U.S. air-crash investigators are preparing to make public a handful of separate safety recommendations, ranging from bolstering the manual flying skills of pilots to enhancing FAA vetting of new aircraft designs, additionally, the U.S. National Transportation Safety Board is expected around the end of the month to call for improvements to cockpit training and crew decision making and focus on potential changes to the certification of new airliners.

Boeing CEO said recently, investigating authorities of other countries may not follow up immediately after the U.S. regulator approves 737MAX to go-around. In the past, aviation regulators in other countries followed closely the FAA's decisions, but that may not happen anymore.

This is probably the cost that FAA has to bear on approving 737MAX.