Boeing To Pay $2.5B to Settle U.S. Criminal Probe Into 737 Max Crashes By David Shepardson, Eric M. Johnson and Tracy Rucinski | January 8, 2021
WASHINGTON/SEATTLE/CHICAGO Boeing Co will pay more than $2.5 billion in fines and compensation after reaching a settlement with the U.S. 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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Rescuers work at the scene of an Ethiopian Airlines Boeing 737 Max that crashed near Bishoftu, or Debre Zeit, south of Addis Ababa, Ethiopia, in March 2019.
Boeing will pay more than $2.5 billion to settle a criminal charge related to the two 737 Max plane crashes in 2018 and 2019 that killed 346 people.
The Justice Department has announced that it has reached a deferred prosecution agreement with Boeing to resolve a charge of criminal conspiracy to defraud the FAA.
Boeing admits to criminal misconduct for misleading regulators about the safety of the troubled jetliner, but the airplane manufacturer is not pleading guilty to the charge. If Boeing complies with the terms of the settlement, in three years the government will drop the criminal charge. That s important for Boeing, a huge federal defense contractor, because a criminal conviction would prohibit the company from getting future government contracts.
(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.