UPDATE 1-China airline association estimates losses from 737 MAX grounding at $579 mln [Reuters]
China Eastern Airlines Corporation Ltd. (CEA)
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Source: Reuters
China airline association estimates losses from 737 MAX grounding at $579 million - Reuters 2 Min Read BEIJING (Reuters) - The China Air Transport Association (CATA) on Friday said it estimates losses at Chinese airlines caused by the grounding of Boeing Co’s 737 MAX aircraft will reach around 4 billion yuan ($579.32 million) by the end of June. China was the first country to ground the 737 MAX two months ago after a crash in Ethiopia killed 157 people in March, in the second such incident for Boeing’s newest aircraft. The U.S. air regulator expects approval for the plane to return to service as early as late June, sources told Reuters on Thursday. Earlier this week, China’s biggest airlines formally asked U.S. planemaker Boeing to compensate them for losses caused by the grounding and delayed deliveries of 737 MAX jets. “We sincerely hope Boeing will place great importance to the compensation requests made by our member companies and offer solutions in a reasonable and legal manner,”
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