Two workers walk under the wing of a 737 Max aircraft at the Boeing factory in Renton, Washington, U.S., March 27, 2019. REUTERS/Lindsey Wasson ReutersBy Christoph SteitzFRANKFURT (Reuters) - TUI warned its profit would fall by at least 200 million euros ($225 million) this year after the grounding of Boeing's 737 MAX aircraft, further evidence of the financial impact of two fatal crashes involving the same type of plane. Tour operator TUI, whose fleet includes 15 737 MAX planes, a tenth of its total, expects flights to resume by mid-July at the latest. Southwest Airlines on Wednesday became the first major U.S. airline to cut its financial outlook for the year after being forced to pull its fleet of 737 MAX planes, the world's biggest, out of service. TUI said on Friday it was "utilizing spare aircraft of its fleet, extending expiring leases for aircraft that were supposed to be replaced by 737 MAX aircraft, as well as leasing in additional aircraft" to soften the blow for travelers.

Source: Ethiopian News March 29, 2019 08:37 UTC