UPDATE 1-Alaska Air says Boeing paid $160 mln in compensation after MAX 9 grounding

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Alaska Air Group said on Thursday Boeing has paid an initial compensation of about $160 million in the first quarter to address the financial hit the airline took due to temporary grounding of 737 MAX 9 jets. The payment is equivalent to the lost profits resulting from an accident and grounding in Q1, Alaska said in a filing, adding it expects additional compensation. An Alaska Air-operated MAX 9 jet experienced a mid-air cabin panel blowout in January, which led the U.S. aviation regulator to order grounding of 171 jets for inspections.