Boeing is to spend $4.9 billioin on compensating airlines and customers affected by the grounding of the 737 Max jet that was involved in two deadly crashes linked to faulty software.
Ryanair's chief executive has said the airline could suffer losses if Boeing's embattled 737 Max planes don't become operational by November. The jets have remained grounded since an Ethiopian Airlines crash in March.
US aircraft giant Boeing has warned that it faces spiraling costs and plummeting revenue after the global grounding of its 737 Max passenger jets. The airline is keen to return the aircraft to service in the autumn.
The US aerospace company recorded a loss of $2.9 billion in the second quarter of 2019. Boeing's 737 MAX model is still grounded after its involvement in two deadly crashes.
The CEO of Europe's largest low-budget airline has said around 1,500 flight crew jobs are redundant. Sinking profits and reduced deliveries of Boeing's grounded 737 Max aircraft have hampered Ryanair's expansion plans.
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