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Ethiopia expects compensation from Boeing by June over grounded aircraft

The Ethiopian Airlines expects to receive compensation from the planemaker Boeing (BA.N) by end of June over grounding of 737…

The Ethiopian Airlines expects to receive compensation from the planemaker Boeing (BA.N) by end of June over grounding of 737 MAX following two fatal crashes in March 2019.“We have invited Boeing to discuss compensation. It’s compensation for the grounded MAX … there is also compensation for delayed delivery of the MAX that was supposed to come and loss of revenue,” Ethiopian CEO Tewolde Gebremariam told local media on Monday.

The CEO did not disclose the amount of the compensation nor stated if Boeing is willing to settle the payment.

Ethiopian flight 302 bound for Kenya crashed six minutes after take-off from Ethiopia’s capital Addis Ababa, killing all 157 passengers and crew.

It was the second deadly crash of a 737 MAX in less than six months and led to the worldwide grounding of Boeing’s top-selling aircraft and a halt in deliveries that airlines have said caused a loss in revenues.

The Ethiopian expects compensation by the end of June when its fiscal year closes, he said.

Boeing said in a statement that it does not comment on its arrangements with particular customers but will continue to work closely with Ethiopian Airlines and others “to reach a fair and reasonable outcome.”

Ethiopian, Africa’s largest airline, has decided not to pursue a lawsuit against Boeing over the 737 MAX crash as it remains a “partner” and Ethiopian uses many of its planes, he said, adding the settlement could be in form of cash or supplies of plane parts.

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