It was recently announced that Boeing will be paying the airlines that grounded the 737 Max in mid-March of this year a whopping sum of $4.9 billion (R68 billion) in damages.
This comes after two fatal crashes of this Boeing model, i.e. Ethiopian Airlines Flight 302 and Lion Air Flight 610, killing 346 people.
Investigators in the Lion Air crash in October off the coast of Indonesia and the Ethiopia Airlines disaster in March have zeroed in on the planes' anti-stall system, called the Maneuvering Characteristics Augmentation System, or MCAS - pinpointing it as the root cause of the crashes.
READ: UPDATE: Australia joins countries and airlines grounding the Boeing 737 Max 8 after horrific Ethiopian Airlines crash
Travel and Leisure reports that the amount is an estimate of concessions for affected airlines who were, ultimately, forced to operate without the aircraft for an extended period of time.
Though Boeing initially planned on reinstating the use of the 737 Max in June of this year, the Federal Aviation Administration (FAA) found yet another issue with the craft, deeming it unsafe for air travel.
The amount of R68 billion will not include the cost of potential litigation. It also excludes the $100 million (R1.3 billion) fund set up by Boeing as compensation for families and communities affected by the crash.
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