Brazil's Gol values Boeing's 737 MAX compensation at up to $412m
Brazil airline Gol Linhas Aereas Inteligentes said Wednesday it will receive up to 2.4b reais ($412m) from Boeing as compensation for the grounding of the 737 MAX plane, in a mix of cash and credits. The aircraft has not flown in more than a year because of two deadly crashes that forced regulators to scrutinize the safety of its design. The timing of the payments has become a lifeline for Gol, which, like its peers worldwide, is reeling from the coronavirus crisis. But the disclosure also provides a point of reference for what kind of compensation other airlines will be able to obtain. According to Gol, it has already received close to 500m reais in cash. In addition, it stands to receive up to 1.9b reais in credits that can be applied to new aircraft acquisitions, used to reduce interest and depreciation expenses.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-05-14/unaligned/brazils-gol-values-boeings-737-max-compensation-at-up-to-412m
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Brazil's Gol values Boeing's 737 MAX compensation at up to $412m
Brazil airline Gol Linhas Aereas Inteligentes said Wednesday it will receive up to 2.4b reais ($412m) from Boeing as compensation for the grounding of the 737 MAX plane, in a mix of cash and credits. The aircraft has not flown in more than a year because of two deadly crashes that forced regulators to scrutinize the safety of its design. The timing of the payments has become a lifeline for Gol, which, like its peers worldwide, is reeling from the coronavirus crisis. But the disclosure also provides a point of reference for what kind of compensation other airlines will be able to obtain. According to Gol, it has already received close to 500m reais in cash. In addition, it stands to receive up to 1.9b reais in credits that can be applied to new aircraft acquisitions, used to reduce interest and depreciation expenses.<br/>
