Boeing Agrees $1.1B Settlement With DOJ Over 737 Max Crashes

Boeing has reached a $1.1 billion settlement with the U.S. Department of Justice to avoid criminal prosecution related to two fatal 737 Max crashes in 2018 and 2019 that killed 346 people. The agreement includes $444.5 million in compensation to the victims' families, $445 million invested in compliance, safety, and quality programs, and a remaining $243 million criminal penalty from an earlier agreement. Boeing admitted to conspiracy to defraud the Federal Aviation Administration over the 737 Max's flight control system and agreed to oversight by an independent compliance consultant. The settlement, which still needs federal judge approval, cancels the trial originally scheduled for June 23. Boeing emphasized its commitment to comply with the resolution and implement substantial institutional improvements. The U.S. Federal Aviation Administration has also maintained a production cap on the 737 Max at 38 jets per month amid these developments.