TL;DR CNBC

Southwest reaches deal with Boeing over 737 Max, plans to share $125 million with employees

Publishing timestamp: 2019-12-12 11:57:24

Summary

Southwest Airlines reaches agreement with Boeing to compensate for financial damages from grounding of 737 Max planes. Southwest will share $125 million with employees, expects Boeing to cut prices on current and future aircraft orders. FAA administrator says recertification of plane will stretch into 2020. Airlines like Southwest, American, and United have taken Max out of their schedules until early 2020. Southwest's pilots union sued Boeing in October.

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Keywords: business news,  aerospace and defense industry,  airlines,  southwest airlines co,  boeing co,  american airlines group inc,  business,  united airlines holdings inc,  breaking news: business,  transportation, 

Source: https://www.cnbc.com/2019/12/12/southwest-to-share-proceeds-of-boeing-compensation-deal-with-its-employees.html