August 27, 2019 / 6:00 AM / a month ago

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

MOSCOW, Aug 27 (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 and secured the order of 35 737 MAX jets.

The subsidiary now wants the amount to be returned with interest, along with $75 million 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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