Cost of Boeing groundings rises as TUI takes $200 million-plus hit

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Cost of Boeing groundings rises as TUI takes $200 million-plus hit
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Anglo-German tour operator TUI became the latest Boeing 737 MAX operator to warn...

FRANKFURT/WASHINGTON - Anglo-German tour operator TUI became the latest Boeing 737 MAX operator to warn of a hit to its profits as the U.S. planemaker moved to restore confidence in its best-selling model after two fatal crashes that have grounded the planes worldwide.

Investigators looking into the March 10 Ethiopian Airlines crash have reached a preliminary conclusion that the anti-stall system was activated before the plane hit the ground, the Wall Street Journal said, citing people briefed on the matter. The amount and quality of training that Boeing and airlines provided to 737 MAX pilots is one of the issues under scrutiny as investigators around the world try to determine the causes of the two 737 MAX crashes within five months.

The European Aviation and Space Agency certified the plane as safe in part because it said additional procedures and training would “clearly explain” to pilots the “unusual” situations in which they would need to manipulate a rarely used manual wheel to control, or “trim,” the plane’s angle. TUI said on Friday that with no dates yet announced by Boeing for modifications of the aircraft, nor for approval of those changes by U.S. and European regulators, it was currently planning for the grounding to last until mid-July.

FILE PHOTO: Airplane engine parts are seen at the scene of the Ethiopian Airlines Flight ET 302 plane crash, near the town of Bishoftu, southeast of Addis Ababa, Ethiopia March 11, 2019. REUTERS/Tiksa Negeri/File Photo

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