"It comes up to around (US$20 million)," Lion Air Group Operations Director Daniel Putut stated in Jakarta on Wednesday.
Earlier, national flag carrier Garuda Indonesia had also cited losses resulting from the flight ban on Boeing 737 Max 8. A flight ban on one Boeing 737 Max 8 aircraft may cause losses reaching $2 million.
Putut admitted to awaiting the decision of the Transportation Ministry, as the regulatory body, on the fate of the Boeing 737 Max aircraft that the airline company had bought and operated.
"We await the Transportation Ministry's decision," he remarked.
Putut noted that Lion Air will have to get an approval from the Federal Aviation Administration (FAA) in the United States in order to improve the system in the newest edition of the Boeing aircraft.
"To upgrade the fleet, we must obtain a seal of approval from FAA. The FAA has agreed to it, and our regulator must follow its suit. We are waiting for the process. As the operator, we wait for the regulator's decision," he stated.
The Transportation Ministry has grounded the Boeing Max 8 aircraft in close heels to the FAA and European Union banning the operation of the aircraft.
Director General of Air Transportation of the Transportation Ministry Polana B. Pramesti explained that the measure was adopted to ascertain the safety of national civil aviation.
EDITED BY INE