Boeing agrees $1.1bn deal over fatal 737 Max crashes
Summary
Boeing agreed to pay $1.1 billion to settle with the U.S. Justice Department over two crashes involving its 737 Max jets in 2018 and 2019 that resulted in 346 deaths. This agreement includes payments to victims' families and funds to improve the company's safety measures, allowing Boeing to avoid a criminal trial if approved by a federal judge.Key Facts
- Boeing struck a deal with the U.S. Justice Department related to the 737 Max crashes.
- The crashes happened in October 2018 and March 2019, causing 346 deaths.
- Boeing agreed to pay $1.1 billion to avoid prosecution.
- Out of this amount, $444.5 million will go to the families of the crash victims.
- Boeing will allocate $455 million to improve safety and compliance programs.
- The company will pay a criminal penalty of $487.2 million, with half already paid in 2021.
- If a federal judge approves the deal, Boeing will avoid a criminal fraud trial.
- Both crashes were linked to faulty flight control systems in the aircraft.
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