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Alaska Air Receives $160M From Boeing After Incident

Boeing has compensated Alaska Airlines with a sum of $160 million (£126 million) to cover its losses stemming from a significant mid-air incident in January.

Alaska Air stated that the funds would address the profits lost during the initial three months of the year, with further payments anticipated in the coming months.

In January, regulators grounded nearly 200 Boeing 737 Max 9 aircraft temporarily following an incident where a door plug fell from an Alaska Air plane shortly after take-off, leading to numerous flight cancellations.

However, a law firm representing some passengers aboard the affected Alaska flight criticized Boeing’s decision. Attorney Daniel Laurence stated, “Apparently, Boeing thinks it more urgent and important to pay those whose corporate profits were at stake, but not those whose lives were at stake and nearly lost.”

Airlines are currently grappling with delivery delays as Boeing reduces the production rate of new planes to address manufacturing and safety issues. In February, Ryanair cautioned that travelers might face higher fares due to these delays.

United Airlines, which had previously warned investors about the financial impact of the grounding, recently requested pilots volunteer for unpaid leave due to the delivery alterations.

In January, Alaska Air forecast a hit of approximately $150 million. The airline remarked, “Although we did experience some book-away following the accident and 737-9 MAX grounding, February and March both finished above our original pre-grounding expectations.”

Boeing refrained from commenting but had previously cautioned that it expected to exceed its anticipated spending by at least $4 billion (£3.16 billion) in the initial three months of the year.

Since the emergency on January 5th, Boeing has been facing a crisis. Passengers aboard the Alaska Airlines flight from Portland, Oregon, to California narrowly escaped serious injury during the incident. An initial report from the US National Transportation Safety Board revealed that four bolts, intended to secure the door to the aircraft, had not been installed.

Boeing is currently under a criminal investigation regarding the incident and faces legal action from passengers aboard the plane.

Last month, Chief Executive Dave Calhoun announced his intention to step down by the end of the year, marking the most significant leadership departure from the company in the aftermath of the crisis.

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