Boeing 737 Max: Airlines say groundings taking millions from profits
Airlines in the US and Europe are warning that they will lose hundreds of millions of dollars among them after the grounding of the Boeing 737 Max.
Airlines have canceled thousands of flights as the plane remains grounded around the world after two fatal crashes.
American Airlines estimated that the grounding would cost it $350 million, while Southwest Airlines says it has already lost $200 million.
The budget carrier Norwegian said “uncertainty” over when the plane would fly again could cost it up to $58 million.
Analysts say different airlines will want different forms of compensation from Boeing, which has already taken a financial and reputational hit from the crashes.
Business Insider