China airline association estimates losses from 737 MAX grounding at US$579 million
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May 24, 2019 - by Stella Qiu, editing by Christopher Cushing for reuters.com
BEIJING (Reuters) - The China Air Transport Association (CATA) on Friday said it estimates losses at Chinese airlines caused by the grounding of Boeing Co's 737 MAX aircraft will reach around 4 billion yuan ($579.32 million) by the end of June.
China was the first country to ground the 737 MAX two months ago after a crash in Ethiopia killed 157 people in March, in the second such incident for Boeing's newest aircraft. The U.S. air regulator expects approval for the plane to return to service as early as late June, sources told Reuters on Thursday.