ALASKA Air Group said on Thursday (Apr 4) Boeing has paid an initial compensation of about US$160 million in the first quarter to address the financial hit the airline took due to temporary grounding of 737 MAX 9 jets.
The payment is equivalent to the lost profits resulting from an accident and grounding in Q1, Alaska said in a filing, adding it expects additional compensation.
An Alaska Air-operated MAX 9 jet experienced a mid-air cabin panel blowout in January, which led the US aviation regulator to order grounding of 171 jets for inspections. The grounding was lifted later that month. REUTERS
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