Joshua Roberts | Reuters
An American Airlines Boeing 737 MAX 8 flight from Los Angeles lands at Reagan National Airport shortly after an announcement was made by the FAA that the planes were being grounded by the United States in Washington, March 13, 2019.
Shares of Boeing ticked higher Friday after a report that the plane manufacturer plans to roll out a software upgrade for its 737 MAX aircraft in the coming weeks.
The report from Agence France-Presse, citing sources, comes after the U.S. grounded all Boeing 737 Max jets this week. The software upgrade is expected to roll out in 10 days, according to AFP.
The Federal Aviation Administration followed the lead of dozens of other countries, citing links between two fatal crashes as grounds to cancel those flights. Boeing's stock had tanked more than 11 percent this week in the aftermath.
Shares rose 1.3 percent Friday afternoon, following the report. Boeing's gains were limited as the company told CNBC the timeline has not changed.
The turnaround comes much sooner than some on Wall Street had estimated. Bank of America predicted this week that it would take the aircraft manufacturer three to six months to "certify the fix."
Of the more than 350 Boeing 737 Max jets in global fleets, 74 are flown by U.S. airlines United Airlines, American Airlines and Southwest Airlines, according to the FAA.
—This story is developing. Please check back for updates.
