09:58 AM EDT, 04/04/2024 (MT Newswires) -- (Updates with details throughout.)

Alaska Airlines (ALK) said Thursday that Boeing ( BA ) has paid the airline $160 million in compensation for the financial impact of the grounding of the carrier's 737 Max 9 fleet, and it expects additional compensation from the plane maker.

The aircraft were taken out of service after a flight in early January had to make an emergency landing after a door plug on a 737 Max 9 blew off mid-flight.

"As a result of the Flight 1282 accident and the Boeing 737-9 Max grounding, we lost approximately $160 million in Q1 pretax profit, primarily comprising lost revenues, costs due to irregular operations, and costs to restore our fleet to operating service," Alaska Airline said in a filing with the US Securities and Exchange Commission, adding that the $160 million payment is equivalent to the lost profits from the accident and grounding in Q1.

"Additional compensation is expected to be provided beyond Q1, the complete terms of which are confidential," the airline added.

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