The largest US airline, American Airlines, has reached an agreement with aircraft manufacturer Boeing on compensation regarding the 737 Max model, which has been grounded after two accidents that claimed the lives of 346 people.

The airline did not disclose the amount, but said it would cover the revenue losses the company suffered in 2019 after thousands of canceled flights. In October last year, American Airlines said the estimated loss was $540 million.

On Monday, Mexican airline Aeromexico also announced that it had reached an agreement on compensation with Boeing.

The airlines are two of several that have requested compensation from Boeing since the model was grounded in March last year. American Southwest Airlines said in December that it had received compensation from Boeing for part of estimated revenue losses of $830 million in 2019.

During the very last days of last year, Turkish Airlines also received compensation, according to Turkish media, it was $225 million.

Boeing has previously announced that the company has set aside $4.9 billion for compensation.

Source: TT