Irish aircraft leasing company sues Boeing for $185 million

Timaero Ireland Ltd., a Dublin-based Irish aircraft leasing company, is suing Boeing, alleging that it violated contracts for 22 737 MAX aircraft and demanding at least $185 million in damages, Bloomberg reported. Timaero Ireland Ltd. filed a lawsuit against Boeing in federal court in Chicago on Tuesday, alleging fraud and breach of contract in contracts with its 22 737 MAX aircraft.

The company said it had trusted Boeing’s assurances that the aircraft was safe and would be delivered on time.

Irish aircraft leasing company sues Boeing for $185 million

Boeing should have delivered four 737 MAX aircraft to the company as of Tuesday local time, but only two have so far, the company said. Boeing refused to refund the company’s aircraft advances, the lawsuit said.

Timaero Ireland Ltd. said Boeing’s best-selling aircraft had been grounded for nine months because of a design flaw and that the company had been affected by a breach of contract by the aircraft manufacturer, Reuters reported.

“The 737 MAX aircraft contract between Boeing and Timaero is now either worthless or heavily devalued,” the company said. “

A Boeing spokesman was not immediately available for comment.

The 737 MAX has been grounded since March and has cost Boeing more than $9 billion since two consecutive crashes in Indonesia and Ethiopia killed 346 people.

Chicago, U.S. aircraft manufacturer Boeing Co. posted a statement on its website on December 16 about the 737 MAX production.

The statement deals with three main aspects:

One is that Boeing will suspend production of the 737 MAX from January because the aircraft’s certification will be extended until 2020.

Second, after the reduction in production, priority can be given to the delivery of existing storage aircraft.

Third, no layoffs or additional leave are currently expected.

It is important to note that this time Boeing stressed the “suspension of production”, the statement said, “We will continue to evaluate our progress in reflying the 737 MAX and make a corresponding decision to resume production and delivery.” “

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