[UPDATE 4 p.m. EDT] -- The FAA has annouced it has approved Boeing's new battery design. Read the annoucement here.


The Boeing 787 Dreamliner that has been grounded for the past three months appears to be heading back to the skies after the U.S. Federal Aviation Administration approved measures to avert risk of battery fires on the midsize wide-body jet.

The Boeing Company (NYSE:BA) and air safety officials haven't commented publicly, but anonymous sources told Bloomberg, without offering specifics, that an announcement of the approval is expected.

The measures include a hardened shell around the on-board lithium-ion batteries, improved circuitry and a smoke ventilation system.

Japan regulators have said they’re winding down their own investigations. It has the largest number of 787 Dreamliners and the batteries are manufactured by Kyoto-based GS Yuasa Corporation (TYO:6674).

The Chicago-based aerospace company said it has delivered 49 of the jets.