Boeing Fined $2.5bn For Lying About 737 Max Crashes
Provided By - Video Elephant on January 08, 2021
Boeing has been criminally charged with conspiracy to defraud the United States by the Department of Justice.
The company will have to pay a $2.5 billion fine for lying to the Federal Aviation Administration about fatal 737 Max crashes.
The tragic crashes of Lion Air Flight 610 and Ethiopian Airlines Flight 302 took place in 2018 and 2019, killing 346 passengers.
Under the ruling, Boeing will pay a criminal monetary penalty of $243.6 million.
The company will pay $1.77 billion in compensation to its 737 MAX airline customers.
They will also put $500 million into a newly established crash-victim beneficiaries fund for the 346 passengers on the flights.
We continue to mourn alongside the families, loved ones, and friends of the 346 individuals who perished on Lion Air Flight 610 and Ethiopian Airlines Flight 302, Special Agent in Charge Andrea M. Kropf.
No individuals have been criminally charged as part of the investigation into Boeing.