Turkish Airlines, Boeing reach deal on compensation for 737 Max

Turkish Airlines and the US aircraft maker Boeing have agreed to a compensation deal over the undelivered aircraft and the grounding of Boeing 737 Max, following two fatal crashes, the carrier said on Tuesday.

"Boeing will cover some of our loss and the revenue that we cannot generate because our grounded aircraft are not used in operations," said the flagship carrier of Turkey in a statement published by Xinhua news agency.

The statement, however, did not specify the value of the deal, but local media reported that it was worth 225 million US dollars including 150 million dollars in compensation and 75 million dollars covering spare parts and training.

In December 2019, the carrier announced it aimed to bring a lawsuit against Boeing due to the uncertainty of issues about Boeing's top-selling aircraft model.

The Boeing 737 Max model was grounded worldwide after two crashes killed hundreds of people and cost the aircraft maker billions of dollars.