Boeing (BA.US) Max 10 certification expected to be announced next week, adding new leverage for debt relief

According to Golden Ten Data APP, sources reveal that the U.S. Federal Aviation Administration (FAA) is nearing approval of Boeing's (BA.US) largest 737 Max series model, the Max 10, after completing a key milestone.

Sources said that the FAA and Boeing held a successful Type Certification Board meeting on Friday, which is one of the final steps before full approval. One individual indicated that certification for the Max 10 could be announced as early as early next week.

Previous media reports stated that approval for the Max 10 was expected around October. Air Current reported earlier on Friday about the successful committee meeting, while Reuters reported that the approval could come as soon as next week.

The Max 10 is one of Boeing's most important new models in its competition with Airbus, offering airlines a solution to replace aging 757 models. Along with other Max models, it is set to become a cash cow needed by Boeing to reduce its debt.

The FAA said in a statement that safety determines the certification timeline.