Boeing 737 Max 8 aircraft grounding causes heavy loss for Chinese airlines: association

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The grounding of Boeing 737 Max 8 airplanes has caused heavy losses for Chinese airlines, said the China Air Transport Association (CATA) Friday, pledging to provide its member enterprises with aid in seeking compensation.

It's estimated that the association's member enterprises might suffer losses worth about 4 billion yuan (about 579 million U.S. dollars) if the grounding continues until the end of June and delivery of more is delayed, the CATA said in a statement.

The statement came after several Chinese airlines including China Eastern Airlines, Air China, China Southern Airlines, Xiamen Airlines and Shandong Airlines this week officially requested compensation from the Boeing Company for economic losses due to the grounding.

"Chinese airlines are the largest customers of Boeing 737 Max 8 aircraft and will suffer the most because of the grounding. We will actively support and aid our members in their demand for indemnity," the statement read.

As of the end of March, the association's 13 members operated 96 Boeing 737 Max 8 planes, and more than 130 were to be delivered this year in accordance with orders placed previously. 

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