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Boeing to pay Brazil airline Gol $412 million for 737 MAX groundings

Published 05/13/2020, 09:29 AM
Updated 05/13/2020, 09:30 AM
© Reuters. FILE PHOTO: The logo of Brazilian airline Gol Linhas Aereas Inteligentes SA is seen inside an airplane at Augusto Severo International Airport in Natal
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SAO PAULO (Reuters) - Brazil airline Gol Linhas Aereas Inteligentes (SA:GOLL4) said Wednesday it will receive a total of 2.4 billion reais ($412.03 million) from Boeing Co (N:BA) as compensation for the grounding of the 737 MAX plane, which has not flown in over a year.

The timing of the payments have become a lifeline for Gol that, as its peers worldwide, is reeling because of the coronavirus crisis.

© Reuters. FILE PHOTO: The logo of Brazilian airline Gol Linhas Aereas Inteligentes SA is seen inside an airplane at Augusto Severo International Airport in Natal

 

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