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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.
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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