Boeing May Lose Up to $18.7 Billion Over Problematic 737 Max - Reports

Earlier this week, Ethiopian investigators released an interim report on the deadly 10 March 2019 crash of an Ethiopian Airlines Boeing 737 MAX 8, confirming that a faulty sensor reading and the automatic activation of an anti-stall system were the main reasons for the crash, adding that Boeing had failed to provide sufficient training to pilots.

On the one year anniversary of the 10 March Boeing 737 MAX 8 crash in Ethiopia, CNN reported that the American aviation super-giant Boeing may face a significant increase in the price tag associated with the fallout from the disaster.

Reporting to its investors in January, Boeing estimated that its losses in connection to the problematic 737 Max would amount to some $8.2 billion in compensations to the company's airline customers and additional $6.3 billion in increased costs to build the aircraft.

Later on, Boeing said that it would increase its spending to build the jets by $4 billion. At the same time, the company has set up a $100 billion fund to compensate to the families of crash victims, though the expenses may increase due to legal fees.

A Nairobi-bound Boeing 737 MAX 8 crashed on 10 March 2019 outside Addis Ababa, Ethiopia, six minutes after takeoff. The crash killed all 157 people on board, and prompted airlines around the world to halt all 737 MAX 8 flights until further notice.

The 10 March accident followed the 29 October 2018 crash of a Lion Air 737 MaxBoeing 737 MAX 8 into the Java Sea, just minutes after takeoff from the Indonesian capital of Jakarta. All 189 passengers and crew on board were killed in that incident.

Following the crashes, the 737 MAX was grounded, for 18 months as of yet, as the company is seeking recertification from the US Federal Aviation Administration (FAA).