Cost of Boeing groundings rises as TUI takes $200 million-plus hit

FILE PHOTO: Airplane engine parts are seen at the scene of the Ethiopian Airlines Flight ET 302 plane crash, near the town of Bishoftu, southeast of Addis Ababa, Ethiopia March 11, 2019. REUTERS/Tiksa Negeri

FRANKFURT/WASHINGTON (Reuters) - Anglo-German tour operator TUI became the latest Boeing 737 MAX operator to warn of a hit to its profits as the U.S. planemaker moved to restore confidence in its best-selling model after two fatal crashes that have grounded the planes worldwide.

TUI said it was planning for the planes to remain grounded until at least the middle of July, costing it upwards of 200 million euros (172.16 million pounds) in core profit, with "considerable uncertainty" about when the 737 MAX would return to service.