TUI and Boeing have reached an agreement on 737 Max compensations
TUI, the German tourist operator, and Boeing aircraft manufacturer have agreed on an extensive package of measures to compensate for the consequences of grounding of aircraft 737 MAX type.
The exact details are confidential. But TUI gets compensation that covers a significant portion of the damage and credits for future orders. It will be fulfilled over a period of two years. In addition, the delivery schedule of 61 737 MAX devices has been revised. As a result, the original planning is delayed by a number of years. This gives TUI financial room in the aftermath of the corona crisis.
The 737 MAX has been grounded worldwide for safety reasons since last year after two fatal crashes in a short period of time. Both catastrophes were strikingly similar and the aircraft automatics was found to be faulty. Boeing is working with aviation authorities to find a solution, but as long as it is not available, aircraft will remain on the ground. The production of the devices has also stopped.