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Airlines Reach Compensation Agreements on 737 MAX
Several operators of the Boeing 737 MAX reached compensation agreements with Boeing this week, following the grounding of the variant in March 2019.
American Airlines issued a statement expressing that a portion of that confidential agreement will be shared with the company’s employees:
“American Airlines shared with its team today that the company has reached a confidential agreement with Boeing on compensation for financial damages incurred in 2019 due to the grounding of the Boeing 737 MAX,” a statement read.
On the other hand, Aeromexico released a similar briefing on Monday, which highlights that it has “recently reached with The Boeing Company a confidential compensation agreement to mitigate the costs arising from the temporary suspension of operations of Boeing 737 Max equipment.” The details of this agreement and its characteristics “are reserved,” as stated by the Mexican operator.
The Mexican company said it is in constant communication with Boeing and the national and international aeronautical regulatory agencies, “and expects that once the equipment is recertified, its operations will be restarted.”
Other operators are negotiating, either direct economic compensation or significant discounts on other products in the Boeing portfolio. Some sources indicate that the manufacturer offered Aerolineas Argentinas a significant discount to move forward with the restoration of the capabilities of the long-distance fleet, but according to what Pablo Ceriani, recently-appointed company’s CEO, has stated in a TV interview the idea is to continue operating Airbus and, after the A340 decommission, homogenize the fleet in the existing product: the A330.
It would not be bad for the company to receive fresh funds derived from the grounding of the MAX and to be able to alleviate its accounting status.
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