Boeing Reaches Tentative 737 MAX Crash Settlements

Key Settlement Details

Boeing has reportedly reached tentative settlements in lawsuits concerning the 2019 Ethiopian Airlines 737 MAX crash. The agreements were made with a Canadian man who lost six family members in the disaster. The terms of the settlements, which were finalized after a jury was selected for trial, have not been publicly disclosed.

Overview of the 737 MAX Incidents

The lawsuits are part of the legal aftermath of two fatal 737 MAX crashes: Ethiopian Airlines Flight 302 and Lion Air Flight 610. These incidents, which occurred within five months of each other, resulted in the deaths of 346 people. Investigations identified an automated flight control system as a contributing factor in both accidents, leading to a 20-month worldwide grounding of the aircraft.

Financial and Legal Ramifications

The two crashes have had a significant financial impact on Boeing, costing the company more than $20 billion through compensation, a deferred prosecution agreement, and other related payments. The U.S. planemaker has previously stated that it has settled over 90% of the dozens of civil lawsuits filed by the victims' families.

Summary and Outlook

In a statement, Boeing expressed its condolences and reiterated its commitment to fully and fairly compensate the families affected. While the vast majority of claims have been resolved through settlements, the company respects the right of families to pursue their claims through damages trials in court.

FAQ

Q: How many people died in the two Boeing 737 MAX crashes?
A: A total of 346 people died across the Lion Air Flight 610 and Ethiopian Airlines Flight 302 crashes.

Q: What has been the estimated financial cost to Boeing?
A: The grounding of the 737 MAX and related compensation have cost Boeing more than $20 billion.

Source: Investing.com