Boeing gets nod to test new 787 battery, wins big 737 order SEATTLE (Reuters) - Boeing Co won approval from U.S. transport regulators on Tuesday to start testing a redesigned battery for the 787 Dreamliner, putting it one step closer to getting the troubled airplane back into regular service. Boeing's shares closed up 1.5 percent, hitting an almost five-year high, and extended gains in after-hours trade, while shares in Japan's GS Yuasa Corp, the battery maker for Dreamliner, rose 0.9 percent in Tokyo on Wednesday, outpacing a 0.5 percent drop in the benchmark Nikkei. Regulators grounded the 50 fuel-efficient Dreamliners in use by airlines on January 16 after a battery fire on a Japan Airlines Co Ltd 787 at Boston airport and a second battery incident on an All Nippon Airways Co Ltd flight in Japan. Boeing halted deliveries of the lightweight aircraft, although its factories continue to make it. The firm is losing an estimated $50 million a week while the planes are grounded. Boeing's new battery - which it presented to the FAA in late February - is designed to minimize the chances of a short circuit, better insulates the cells within the battery, and adds a new containment and venting system to prevent damage even if the battery catches fire. The FAA's decision was welcomed by Boeing, while Kyoto-based GS Yuasa declined to comment. Japan's Civil Aviation Bureau, its FAA counterpart, reiterated that 787 flights can resume before Boeing finds the root cause of the battery problems as long as the fix demonstrates that the trouble experienced on the All Nippon Airways flight can be prevented. There are various steps towards resuming flights and this is another step forward so this is a good development. And I may be repeating my earlier comments, but there are still steps required," said Shigeru Takano, senior safety official at the CAB. All Nippon Airways, a Dreamliner launch customer which has 17 of the planes it wants to bring back into service, said the FAA approval represented "a major step towards the resumption of flights," while rival Japan Airlines said it was another step in the right direction, and would continue to work with related parties on the issue. The FAA, under political pressure to ensure no further mishaps, has yet to approve Boeing's redesigned battery. Still, that would not be early enough for airlines to plan summer schedules. News of the big order from Ryanair further boosted investor enthusiasm for Boeing. Reporting by Karen Jacobs and Tim Hepher in Orlando, Ros Krasny in Washington, Tim Kelly and Mari Saito in Tokyo; Editing by Bernard Orr and Daniel Magnowski