Boeing has signed a $1.1 billion deal with the Department of Justice (DOJ) that allows the aerospace giant to avoid criminal prosecution for deceiving federal regulators prior to two deadly 737 MAX crashes.
Under a final non-prosecution agreement, signed on May 29 and disclosed in a June 4 filing with the Securities and Exchange Commission (SEC), Boeing admitted to conspiring to defraud the Federal Aviation Administration (FAA) and agreed to pay nearly half a billion dollars to the families of the 346 victims of the crashes, along with additional fines and investments in safety and compliance.
The deal, which awaits final judicial approval, requires Boeing to pay $487.2 million in fines, create a new $444.5 million victim compensation fund, and invest $455 million into strengthening compliance and safety programs. As part of the deal, the company’s board must also meet directly with crash victims’ families. Half of the fines have already been paid under a 2021 deal….