The U.S. Department of Justice (DOJ) said it has reached a deal in principle with Boeing and will drop its criminal prosecution stemming from two 737 MAX crashes that killed 346 people.
As part of the deal outlined in a court filing on Friday, Boeing will spend $1.1 billion on fines, safety improvements, and compensation for families of the crash victims.
Specifically, that includes a $487.2 million criminal fine, $444.5 million toward a fund to be evenly distributed among the victims’ families, and $455 million dedicated to boosting Boeing’s compliance, safety, and quality programs.
Boeing will also admit to “conspiracy to obstruct and impede” the Federal Aviation Administration (FAA), instead of standing trial on a felony charge of conspiracy to defraud federal regulators….