Grounded Boeing jets costs major airlines billions in losses

(CNN) — The grounding of the Boeing 737 max jet is taking a toll on the pockets of some top airlines.

American and Southwest airlines reported Thursday a combined loss of at least one-billion dollars and that number is only expected to grow. American has 24 737 jets in their fleet while Southwest has 31.

Boeing hopes to get approved to fly its jets again by the end of this year. The Federal Aviation A Administration (FAA) said last week that there’s no set timeline for the approval process.

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