Alaska Airlines has received $160 million as initial compensation from Boeing following an incident in January where a panel blew out of one of its Boeing 737 Max 9 aircraft.

The airline anticipates further compensation, the details of which remain confidential.

The payment covers Alaska’s pre-tax losses stemming from the accident, encompassing lost revenue and the expenses incurred in returning its Max 9 fleet to service after a three-week grounding.

Boeing has refrained from commenting on Alaska’s filing, although its chief financial officer previously acknowledged that the incident’s aftermath would impact the company’s financial results.

The incident, which occurred during a flight over Oregon, led to the grounding of all Max 9s in the United States, affecting both Alaska and United Airlines, the Associated Press reported.

Investigations by the FAA, NTSB, and the Justice Department are ongoing. Alaska’s filing suggests potential future payments from Boeing to other affected customers due to grounding and production delays.

Additionally, Alaska predicts a loss of $1.05 to $1.15 per share for the January-March quarter, with the accident accounting for 95 cents per share of the total loss, exceeding analysts’ expectations.

Written by B.C. Begley