Leading Chinese Airlines Request Boeing to Compensate for Grounding 737 MAX Jets - Forex News by FX Leaders

Leading Chinese Airlines Request Boeing to Compensate for Grounding 737 MAX Jets

Posted Wednesday, May 22, 2019 by
Arslan Butt • 1 min read

Amid heightening US-China trade anxieties, three of the largest airlines in China have requested Boeing to compensate losses incurred by the companies for grounding and delayed deliveries of 737 MAX aircraft.

According to reports in Chinese media, China Eastern Airlines Corp Ltd, Air China Ltd and China Southern Airlines Co Ltd have requested for compensation after their businesses suffered. China was the first country in the world to ground 737 MAX after an air crash in Ethiopia in March which resulted in the loss of 157 lives.

The US Federal Aviation Administration (FAA) is due to host global regulators on Thursday in Dallas to conduct a review of Boeing’s 737 MAX software and training proposals. Following this meeting, the FAA will take a call on whether or not to end the grounding and by when these aircraft can fly again.

Other international airlines including Flydubai, Turkish Airlines, Ryanair and United Airlines have also requested Boeing for compensation over 737 MAX grounding.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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