Global air crash deaths fall more than half in 2019

A hitchhiker climbed onto the wing of Azman Air Boeing 737

A hitchhiker climbed onto the wing of Azman Air Boeing 737

CEO Doug Parker said in October he was confident that any losses due to the Max grounding "won't be incurred by American shareholders, but will be borne by the Boeing shareholders".

The company made no public commented on the figures as they are yet to be audited but they allow Airbus to grab the No 1 global crown from USA rival Boeing which is enduring a torrid time due to ongoing problems with its 737 Max aircraft.

If the wiring needs to be fixed, Boeing says it would take one to two hours per plane to separate the bundles using a clamp. However, it said it will share $ 125 million of the manufacturer's compensation with its employees as a "profit sharing". American is expected to see some cash from that amount after it works a settlement with Boeing.

Air Canada said it recently opted to push back the return of the Boeing jet through March 31.

Other airlines have already agreed a recompense with Boeing.

The preliminary report into the tragic incident found that a malfunctioning sensor sent faulty data to the Boeing 737 Max 8's anti-stall system and triggered a chain of events that ended in a crash so violent it reduced the plane to shards and pieces.

"We're at the negotiating table", said spokesman Martin Riecken, adding that TUI hoped to reach a settlement with Boeing but was still considering legal action. The company still has 76 other jets ordered. Moreover, the European TUI airline also announced ongoing negotiations with Boeing to recover its losses.

American, along with Southwest and United, have lost money because they had to cancel and consolidate flights that used the 737 MAX.

The cost of financial compensation to clients promises to be astronomical. Six months later, the prospects for returning to service are still inaccurate - there are companies projecting June to resume operations. Doug Parker said in October that he was confident that any losses caused by Max grounding "would not be incurred by U.S. shareholders, but would be borne by Boeing shareholders".

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