Russia’s Rostec confirms unit filed lawsuit to cancel Boeing 737 MAX order

MOSCOW, Aug 27 (Reuters) – Russian conglomerate Rostec confirmed its subsidiary has filed a lawsuit in america to cancel its order for 35 Boeing 737 MAX jets, an organization consultant mentioned on Tuesday.

In keeping with the Monetary Instances, which first reported concerning the lawsuit, Rostec’s subsidiary Avia Capital Service mentioned it gave Boeing a money deposit of $35 million and secured the order of 35 737 MAX jets.

The subsidiary now needs the quantity to be returned with curiosity, together with $75 million in “misplaced revenue” and about $115 million in compensatory damages, plus “a number of occasions the quantity” in punitive damages, the FT report mentioned. (Reporting by Gleb Stolyarov; writing by Anton Kolodyazhnyy, Modifying by Sherry Jacob-Phillips)

Author: Maxwell C.

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