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HomeBusinessAlaska Air says Boeing paid $160 million in compensation after MAX 9...

Alaska Air says Boeing paid $160 million in compensation after MAX 9 grounding

Reuters / Updated: Apr 4, 2024, 18:14 IST

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Alaska Air Group received $160 million compensation from Boeing in Q1 for 737 MAX 9 grounding, with expectations for additional compensation post a cabin blowout incident that prompted the grounding of 171 jets.

Alaska Air says Boeing paid $160 million in compensation after MAX 9 grounding

The Boeing logo is displayed on a screen, at the New York Stock Exchange (NYSE) in New York, US, August 7, 2019. (Reuters file photo)

Alaska Air Group

said on Thursday that

Boeing

has paid an initial compensation of about $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.

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