Chinese Airlines May Lose CNY578 Million Due to Boeing 737 Max Grounding
Liao Shumin
/SOURCE : yicai

(Yicai Global) May 24 -- Chinese airlines can expect to lose a combined CNY4 billion (USD578 million) if the global grounding of Boeing's troubled 737 Max 8 continues to the end of next month, according to a projection by the China Air Transport Association.

The industry body will actively support and assist members claiming compensation from the US aircraft giant, it said in a statement. 

Some 13 Chinese carriers operated 96 Boeing 737 Max 8 aircraft as of the end of March, while more than 130 such planes were expected to enter circulation in the country this year.

China was the first country to ground Boeing's best-selling 737 Max after two fatal crashes in Ethiopia and Indonesia claimed over 300 lives between last October and this March.

Editor: William Clegg 

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Keywords: China Air Transport Association , Boeing