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Boeing<\/a> handed over $160 million to Alaska Airlines to make up for the carrier\u2019s losses after a January incident where a door plug<\/a> flew off one of its Boeing planes.\u00a0<\/p>\n The airplane manufacturer\u2019s cash disbursement to Alaska Airlines was an initial payment to make up for the equivalent of its losses in \u201cQ1 pretax profit, primarily comprising lost revenues, costs due to irregular operations, and costs to restore our fleet to operating service,\u201d according to an SEC filing by the airline Thursday.<\/p>\n Alaska Airlines said Boeing\u2019s multi-million-dollar payment was just the beginning and \u201cAdditional compensation is expected to be provided beyond Q1,\u201d although it didn\u2019t disclose how much or when.<\/p>\n Following the door plug incident<\/a> in January, Alaska Airlines grounded its fleet of 65<\/a> Boeing 737-9 Max airplanes. The Federal Aviation Administration later temporarily grounded more than 170 of the planes across airlines as the National Transportation Safety Board launched an investigation. Most are now back in service.<\/p>\n Following the door plug incident, a string of failures with components of Boeing planes attracted the ire of its customers and scrutiny from regulators. Last month, the company\u2019s CEO Dave Calhoun said he would step down<\/a> at the end of the year.<\/p>\n The company still has work to do before it can regain its customers\u2019 trust. Alaska Airlines\u2019 CEO, Ben Minicucci, said in an interview following the January incident that he was \u201cangry<\/a>\u201d at Boeing and demanded it improve its manufacturing process. Minicucci added that an inspection by the FAA found that many of the airline\u2019s grounded 737-9 Max planes had \u201cloose bolts.<\/a>\u201d\u00a0<\/p>\n Another airline and one of Boeing\u2019s biggest customers, United, has said it may ask its pilots to take unpaid time off<\/a> next month because Boeing is so late delivering its new planes. The airline\u2019s CEO had previously said he was \u201cdisappointed<\/a>\u201d with Boeing and was looking to its Europe-based rival Airbus<\/a> as an alternative.<\/p>\n Meanwhile, Boeing is looking for a new CEO to right the ship as its stock faces a 27% collapse<\/a> since the start of the year.<\/p>\n<\/div>\n\nSubscribe to the CEO Daily newsletter to get the CEO perspective on the biggest headlines in business. Sign up<\/a> for free.<\/div>\n<\/div>\n