Icelandair says Boeing (NYSE:BA) has agreed to cover costs associated with the airline's fleet of six grounded 737 MAX jets, making it the first carrier to disclose such a settlement since the planes stopped flying in March.
The size of the compensation is not disclosed; the airline's previous estimates of the cost from grounding were ~$1.3M per day.
Boeing took a $5.6B charge against Q2 earnings to cover anticipated payments for more than 380 MAX jets that have been grounded and hundreds more planes that cannot be delivered until regulators lift a flight ban on the aircraft.
BA shares closed -1.3% in today's trade as the head of the Federal Aviation Administration said a series of steps needed to be completed before the 737 MAX could return to service.
Subscribe for full text news in your inbox