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Boeing 737 MAX Aircraft Grounding
6 Months Ended
Jun. 30, 2019
Unusual or Infrequent Items, or Both [Abstract]  
Boeing 737 Max Aircraft Grounding BOEING 737 MAX AIRCRAFT GROUNDING

On March 13, 2019, the Federal Aviation Administration issued an emergency order for all U.S. airlines to ground all Boeing 737 MAX aircraft. The Company immediately complied with the order and grounded all 34 737 MAX 8 aircraft in its fleet. The Company will continue to monitor the situation and any potential future accounting implications that arise. The most significant financial impacts of this grounding to the Company thus far have been the lost revenues, operating income, operating cash flows, and delayed capital expenditures directly associated with its grounded 737 MAX 8 fleet and other new aircraft that have not been able to be delivered. On July 18, 2019, the Boeing Company announced a $4.9 billion after-tax charge for ‘potential concessions and other considerations to customers for disruptions related to the 737 MAX grounding.’ The Company has had preliminary discussions with Boeing regarding compensation for damages due to the MAX groundings, but has not reached any conclusions regarding these matters, and no amounts expected from Boeing have been included in second quarter results.