(Reuters) -Alaska Air Group said on Thursday 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 U.S. aviation regulator to order grounding of 171 jets for inspections. The grounding was lifted later that month.
(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Shinjini Ganguli)
Comments