Boeing Company (BA.US) Max 10 certification expected to be officially announced next week, adding another bargaining chip for debt relief.

According to people familiar with the matter, the U.S. Federal Aviation Administration (FAA) is close to approving the largest model in Boeing Company's (BA.US) 737 Max series, the Max 10, after completing a key milestone. The people said the FAA and Boeing Company held a successful type certification board meeting on Friday, one of the final steps before final approval. One of them said certification of the Max 10 could be announced as early as early next week. Media previously reported that approval of the Max 10 was expected around October. Air Current reported earlier on Friday that the board meeting was held successfully, while Reuters reported that approval could come next week. The Max 10 is one of Boeing Company's most important new models in its competition with Airbus, offering airlines a solution to replace older 757 aircraft, while along with other Max models serving as a cash cow needed by Boeing Company to reduce debt. The FAA said in a statement that safety determines the certification timeline.