Boeing, an American aircraft manufacturer, earlier today, announced it has settled the case with Southwest Airlines over the grounding of 737 Max planes in an outside court settlement.
The Aircraft maker agreed for a $125 million compensation for the losses faced by Southwest Airlines after its 737 max aircraft were grounded.
Southwest airlines had to face massive financial losses after the grounding of its 737 max fleet. The customers also had to face major disruptions after the airline had to cancel its flights.
Regulators from all over the world order the Boeing 737 Max flights to be canceled after two of its airplanes crashed killing all the passengers on board.
The spokesperson from Southwest airlines stated the company would use the funds received for employee profit-sharing.
Gary C. Kelly, the CEO and Chairman of the Airline stated “Our employees have worked really hard during the groundings of the 737 Max. The customer support and performances have been really strong during tough times.”
Kelly also praised all the employees of the airline on behalf of the Board of Directors.