Boeing 737 Max plans parked at Renton Airport Washington

Tui expects the Boeing 737 Max’s grounding to cost it up to 300 million euros ($335 million) this year.
The German tourism group’s third-quarter profits more than halved due to the model’s grounding, as well as delayed customer bookings and Brexit uncertainty.
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Tui expects the Boeing 737 Max’s grounding to cost it up to 300 million euros ($335 million) this year.

The German tourism group — which owns travel agents, hotels, airlines, and other businesses — suffered a 58% drop in pre-tax profits in the third quarter. It blamed the steeper losses on having to replace the grounded airplane model, as well as delayed customer bookings following last year’s heatwave and Brexit uncertainty.

Aviation officials around the world have ordered airlines not to fly the 737 Max after one of the jets crashed in Indonesia last October, and another went down in Ethiopia in March. The model could remain grounded until 2020.

More than 30 airlines including Turkish Airlines, United Airlines, and American Airlines have grounded their 737 Max fleets.

Tui’s third quarter was “negatively impacted” by the loss of the 737 Max, according to its latest earning report. The company won’t return the model to service until …read more


Source:: Businessinsider – Finance

      

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