Boeing Max Buyer Flydubai Says Grounding Has Set It Back 5 Years - Bloomberg

Boeing Max Buyer Flydubai Says Grounding Has Set It Back 5 Years - Bloomberg:

Flydubai, the second-biggest customer for Boeing Co.’s grounded 737 Max jetliner, warned that its operations will shrink to 2014 levels if the model doesn’t return to service soon.

With the Max idled since March after two fatal crashes and leased planes due to be returned to their owners as contracts expire, Flydubai has gone from rapid expansion to a severely reduced network and mounting losses, Chief Executive Officer Ghaith Al Ghaith said Monday.

“Without any deliveries of new aircraft and no visibility of the timelines, we will see our operating fleet reduce in size to what it was in 2014,” Al Ghaith said in a statement after the sister carrier to long-haul giant Emirates reported a loss of 197 million dirhams ($54million) first-half loss.