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Garuda and Lion Air Suffering Millions in Losses Due to Grounding of Boeing 737-MAX 8

Tempo.co says the Lion Air Group has lost some US$20 million during the worldwide grounding of its 10 Boeing 737 MAX 8 following the crash of two B737-MAX 8 in Indonesia and Ethiopia.

Calculating the cost of the grounding of 10 aircraft, the Lion Air Group Operations Director, Daniel Putut, said: "It comes up to around (US$20 million)."

Garuda Indonesia, with only one Boeing 737 Max 8 grounded estimates that have lost US$2 million.

Indonesia’s Transportation Ministry will have to authorize the operation of the disgraced aircraft type in the Country’s air space before Lion Air and Garuda can once again fly the B737-Max 8. That approval, realistically, will only come after the U.S. Federal Aviation Administration (FAA) declares the aircraft airworthy again, a date that could still be months away.

"To upgrade the fleet, we must obtain a seal of approval from FAA. If the FAA has agreed to it, and our regulator must follow its deision. We are waiting for the process to play out. As the operator, we wait for the regulator's decision," Puput stated.

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