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Home / World / Boeing: 737 Max Grounding costs $ 225 million

Boeing: 737 Max Grounding costs $ 225 million



Europe's largest tour operator said on Friday that its 2019 earnings would fall by 200 million euros ($ 225 million), assuming that the best-selling aircraft flights resume in mid-July.

Shares in TUI [19659003] ( TUIFF ) declined by 8% after the announcement in Frankfurt.

The company operates 15 of the Boeing aircraft, which make up 10% of its total fleet, and expects to ship eight more jets by the end of May.

  Boeing can regain the trust of the public. but the time is running out

. TUI said the 737 Max was grounded forced it to rent new planes and extend the leases to others. The company needs to know "within weeks" when flights will resume, otherwise the revenue could fall by an additional 100 million euros ($ 112 million), the company added.

The profit warning is the latest example of the rising cost of Boeing customers deciding to land all 737 Max aircraft after two deadly crashes in five months.

Southwest Airlines warned earlier this week about the 737 Max's floor fittings that are affecting ticket sales.

The carrier said the number of seats it can sell this quarter will be much lower than previously expected as it does not fly as many aircraft. 2,800 flights were canceled due to the issue of 737.

Southwest ( LUV ) has more 737 Max aircraft than any other US airline. American Airlines ( AAL ) and United Airlines ( UAL ) also have planes in their fleets.
Boeing presented an overhaul of a software system and additional pilot training for the 737 Max on Wednesday.

The aviation authorities described the software system as one of the leading factors in a Lion Air crash last October. Investigators have drawn similarities between the flight data from this crash and the Ethiopian Airlines crash this month.


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