Grounded Boeing 737 MAX planes in Seattle, US. Associated Press
Boeing Co said that it would give $100 million over multiple years to local governments and non-profit organisations to help families and communities affected by the deadly crashes of its 737 MAX planes in Indonesia and Ethiopia.
Once global regulators clear Boeing Co’s 737 MAX to fly again after deadly crashes, airlines, which have put their fleets into mechanical hibernation since March will scramble to begin the biggest ungrounding effort in history. Quickly reintegrating Boeing’s 737 MAX, a fast-selling model because of its fuel efficiency,
Boeing Co said on Wednesday it will dedicate half of a $100 million fund it created after two crashes of its 737 MAX planes to provide payments to families of those killed, with compensation expert Ken Feinberg hired by the world’s largest plane maker to oversee the distribution.
Many investors are eyeing to acquire stake in ailing Malaysia Airlines. Proposals to invest in Malaysia Airlines include one from Air France-KLM, which wants as much as 49% while Japan Airlines is looking at a 25% stake, people with knowledge of the matter said.
Uber, the multinational ride hailing application, has sold its online food-ordering business in India to local rival Zomato in exchange for a 9.99 per cent stake in the startup. The deal is reportedly worth over $350m or close to Rs2,500 crore. Zomato is backed by China's Ant Financial.
The Bank of Japan (BOJ) on Tuesday upgraded its growth forecast for the world’s third-biggest economy but kept its monetary policy unchanged.