Boeing to Pay $2 5 Billion to Settle US Criminal Probe Into 737 MAX Crashes that Killed 346 People news18.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news18.com Daily Mail and Mail on Sunday newspapers.
By Jaclyn Jaeger2021-01-08T18:08:00+00:00
Boeing has agreed to pay over $2.5 billion as part of a three-year deferred prosecution agreement (DPA) entered into with the Department of Justice on Thursday to resolve a criminal charge related to the commercial aerospace manufacturer’s 737 MAX scandal.
The DOJ accused Boeing of conspiracy to defraud the Federal Aviation Administration’s Aircraft Evaluation Group (FAA AEG) during evaluation of the aircraft. Under the agreement, Boeing will pay a criminal penalty of $243.6 million and provide $500 million in additional compensation to the families of passengers killed in two 737 MAX crashes. The remaining $1.77 billion will be paid to airline customers for financial losses resulting from the grounding of the aircraft.
(Adds analyst quote, background) By David Shepardson, Eric M. Johnson and Tracy Rucinski WASHINGTON/SEATTLE/CHICAGO, Jan 8 (Reuters) - Boeing Co will .
Boeing to pay $2.5b to settle US probe into 737 MAX crashes
08 Jan 2021 The settlement will allow Boeing to avoid further prosecution related to accidents involving 737 MAX jets. Boeing Co will pay more than $2.5 billion in fines and compensation after reaching a settlement with the US Department of Justice over two plane crashes that killed a total of 346 people and led to the grounding of its 737 MAX jetliner.
The settlement, which allows Boeing to avoid prosecution, includes a fine of $243.6 million, compensation to airlines of $1.77 billion and a $500 million crash-victim fund over fraud conspiracy charges related to the plane’s flawed design.
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By Reuters | January 8th 2021
Ethiopian Federal policemen stand at the scene of the Ethiopian Airlines Flight ET 302 plane crash, near the town of Bishoftu. [Reuters]
Boeing Co will pay more than Sh273.8 billion ($2.5 billion) in fines and compensation after reaching a settlement with the US Department of Justice over two plane crashes that killed a total of 346 people and led to the grounding of its 737 MAX jetliner.
The settlement, which allows Boeing to avoid prosecution, includes a fine of Sh26.7 ($243.6 million), compensation to airlines of Sh186 billion ($1.77 billion) and a Sh54.7 billion ($500 million) crash-victim fund over fraud conspiracy charges related to the plane’s flawed design.