Boeing Wins Orders For Its Troubled 737 Max Aircraft At Dubai Air Show

Boeing (BA) on Tuesday secured orders to sell 60 of its embattled 737 Max aircraft on the third day of the Dubai Air Show, although this model has been grounded since March after two deadly crashes that killed some 350 people.

Air Astana, a carrier based in Kazakhstan, signed a letter of intent to purchase 30 737 Max jets for its recently launched low-cost airline FlyArystan. This contract, valued at $3.6 billion, remains subject to the aircraft satisfying regulatory conditions and must be cleared for service.

"We believe that the Max will provide a solid platform for the growth of FlyArystan throughout our region once the aircraft has successfully returned to service, Air Astana President and CEO Peter Foster said in a statement "

Boeing also scored a $1.2 billion contract to sell 10 of its 737 Max airliners to SunExpress, a Turkish leisure airline. The other order, for 20 737 Max aircraft, came from an unidentified buyer.

Earlier this year, the parent of British Airways, International Consolidated Airline Group, said at the Paris Air Show that it planned to purchase 200 of the 737 Max planes, but that order has not yet been confirmed.

Meanwhile, Boeing is trying to fix the software of its automated flight system of the 737 Max model, which is believed to be responsible for the aforementioned crashes. Regulators still must assess the safety of the aircraft.

Stan Deal, head of Boeing's commercial aircraft, told reporters there is still no fixed date for when the 737 Max returns to service. "We continue to make progress," he said.

Despite these orders, Boeing’s rival Airbus has received some $30 billion in contracts for its aircraft at the Dubai Air Show.

Separately, Boeing’s directors are also facing lawsuits from shareholders alleging the board failed to react promptly to the two crashes involving the 737 Max. The suit also alleges the aerospace giant didn’t properly test its flight system and rushed the 737 Max to market.

Last October, a Lion Aircraft crashed in Indonesia and in March of this year an Ethiopian Airlines crashed in Africa. Both aircraft were Boeing’s 737 Max.

The grounding of 737 Max, the suit adds, has harmed the company “through loss of credibility in the marketplace, a damaged reputation and billions in potential business costs and liability.”

Boeing also faces scores of suits from the families of crash victims.

Since the March grounding, Boeing has lost untold millions in operating income and suffered tens of thousands of flight cancellations.

Shares of Boeing have dropped about 12% since the March crash.