Boeing To Compensate Ethiopian Airlines For 737 Max Grounding By June

The CEO of Ethiopian Airlines, Tewolde Gebremariam announced on Friday that the airline expects to reach a settlement for the 737 Max grounding following the crash of March 2019.

The crash of Flight 302 killed all 157 Passengers 6 Minutes after takeoff.

The 737 Max was grounded worldwide in March 2019 after 2 fatal crashes starting with the Lion Air flight 610 on October 2018.

Mr. Gebremariam announced that Boeing received invitations from Ethiopian Airlines to discuss compensation related to the 737 Max Grounding from delayed delivery to loss of revenue.

He also added that the Airline will not sue Boeing, due to the fact that Ethiopian Airlines still operates Boeing aircraft in its fleet.

Mr. Gebremariam hinted that with the Pandemic affecting passenger numbers, Ethiopian Airlines will focus on cargo business.

Adding that 22 planes have been converted for cargo use.

Ethiopian Airlines announced a loss of $550 Million from January to April.

The compensation will come in the form of plane parts or cash payments.