Alaska Airlines says Boeing has paid $160 million in initial compensation for losses that the airline suffered after a panel blew off one of its Boeing 737 Max 9 jetliners in January.
The airline said Thursday that it expects additional compensation, the terms of which it said are confidential.
The payment covered Alaska’s pretax loss related to the accident, including lost revenue and the cost of returning its Max 9 fleet to service after the planes were grounded for three weeks.
It's interesting these costs of doing business the shitty way keep adding up. Just imagine how much they've skimped, stolen or extracted in value over the years to make this still the best way to make a profit in business. Nationalize them.
In the stock market driven board rooms of today, they don’t care. They made more money than they will be fined. They can right off the loses to a large extent. If it gets bad, they sell it off and negate all responsibility. It’s all about meeting quarterly profit goals and increasing share holder value. This is why strong government regulation of markets has to exist. If the winning players make the rules instead of the referees, they will make rules that ensure they keep winning every time.
Until the government bans stock buy backs again and reinstates many of the regulations tore down by the rise of the right, this type of neglect in the name profit will continue.