Turkish Airlines reaches compensation deal with Boeing for 737 Max

Turkish Airlines has announced that it has reached a compensation deal with US aircraft maker Boeing over undelivered aircraft and the grounding of the Boeing 737 Max following two fatal crashes, the company said.

Boeing will cover some of the airline´s loss and the revenue that it cannot generate because the grounded aircraft are not used in operations.

The statement did not specify the value of the deal, but local media reported that it was worth USD 225 million including USD 150 million in compensation and USD 75 million covering spare parts and training.

In December, the carrier announced it aimed to bring a lawsuit against Boeing due to the uncertainty of issues about Boeing´s top-selling aircraft model. The Boeing 737 Max model was grounded worldwide after two crashes killed hundreds of people and cost the aircraft maker billions of dollars.