Chinese Airlines’ 737 Max losses estimated at more than USD500 million
Chinese airlines could suffer losses of up to $579 million as a result of the continued grounding of Boeing 737 Max planes.
That is an estimate of the China Air Transport Association if the aircraft are not cleared to fly again by the end of June.
It says 13 of its member airlines operated a total of 96 737 Max 8 planes, while another 130 were supposed to be delivered this year.
"Chinese airlines are the largest customers of Boeing 737 Max 8 aircraft and will suffer the most because of the grounding," CATA said in a statement.
Max customers in China include China Eastern Airlines, Air China, China Southern Airlines and Xiamen Airlines.
The trade group is spearheading the fight for compensation on behalf of its members.
It will ‘actively support and coordinate member companies to carry out their compensation work.’
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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