Max grounding impacts TUI Q3 2019 results

TUI has blamed the grounding of the 737 Max in a third-quarter briefing. The airline, which has 15 Max aircraft, claimed in the latest financial results that the grounding will cost it approximately €300 million in the year ending 30 September. The group’s net profit declined 46% from the year prior to €47.3 million. During the latest quarter, the group’s EBITA declined 46% to €100.9 million from €186.8 million because of the 737 Max grounding. Boeing is assuming the 737 Max will return to service in the US and other countries in the autumn. However, no firm date has been