'It could well move to zero if Boeing don’t get their s--- together pretty quickly with the regulator,” Ryanair CEO Michael O'Leary said yesterday.
American Airlines warned investors last week that it expects the grounding will cost it $400 million in pretax earnings this year, $50 million more than it forecast in April.
O'Leary's comments highlight growing frustration among carriers left without their new planes, even as Boeing tries Boeing tries to quantify compensation for airlines and leasing firms.in the second quarter because of the grounding. It took a $4.9 billion charge in the second quarter for compensation it plans to pay to 737 Max customers. It said its production costs rose by $1.7 billion, and warned that costs could climb if the grounding goes on longer.
FAA officials on Wednesday morning are scheduled to face questions from a Senate transportation panel about oversight of the agency.
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