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Southwest settles Max grounding compensation claim with Boeing
Southwest Airlines says it has reached a deal with Boeing for part of its financial compensation claim relating to the continued grounding of the 737 Max jets.
The award is confidential but the airline did say it would add $125 million to its employee profit sharing plan.
That will be paid as part of the airlines normal profit sharing in 2020.
"Our people have done an incredible job managing through the Max groundings," said CEO Gary Kelly.
Southwest is the largest Max customer with 34 and Boeing’s most loyal airline.
Its entire fleet is made up of Boeing 737 jets.
Like rivals United and American Airlines, it has cancelled tens of thousands of flights since the global grounding began last March.
Talks regarding other aspects of its compensation claim with Boeing are still ongoing.
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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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