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

Russia's Rostec confirms unit filed lawsuit to cancel Boeing 737 MAX order
FILE PHOTO: The Boeing logo is displayed on a screen, at the New York Stock Exchange (NYSE) in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid -
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MOSCOW (Reuters) – Russian conglomerate Rostec confirmed its subsidiary has filed a lawsuit in the United States to cancel its order for 35 Boeing 737 MAX jets, a company representative said on Tuesday.

According to the Financial Times, which first reported about the lawsuit, Rostec’s subsidiary Avia Capital Service said it gave Boeing a cash deposit of $35 million (28.51 million pounds) and secured the order of 35 737 MAX jets.

The subsidiary now wants the amount to be returned with interest, along with $75 million (61.09 million pounds) in “lost profit” and about $115 million in compensatory damages, plus “several times the amount” in punitive damages, the FT report said.

(Reporting by Gleb Stolyarov; writing by Anton Kolodyazhnyy, Editing by Sherry Jacob-Phillips)

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