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China airline association estimates losses from 737 MAX grounding at $579 mln

BEIJING, May 24 (Reuters) - The China Air Transport Association (CATA) on Friday said it expects losses at Chinese airlines caused by the grounding of Boeing Co’s 737 MAX aircraft to be around 4 billion yuan ($579.32 million) by the end of June.

CATA in a statement on its website said it hopes Boeing will attach great importance to compensation requests made by Chinese airlines.

($1 = 6.9046 Chinese yuan renminbi)

Reporting by Stella Qiu and Beijing Monitoring Desk; Editing by Christopher Cushing

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