Boeing Offers Up to $2 Billion in Compensation for 737 MAX Crashes

Families of victims to receive $1.4 million each

Boeing has announced it will offer up to $2 billion in compensation to the families of the victims of the two 737 MAX crashes that killed 346 people. The families of each victim will receive $1.4 million, and Boeing will also provide financial assistance for lost income and other expenses. The compensation offer is part of a broader settlement agreement between Boeing and the U.S. Department of Justice. In January 2021, Boeing agreed to pay a $2.5 billion fine and enter a three-year deferred prosecution agreement with the Justice Department to resolve a criminal charge related to the 737 MAX crashes.

Settlement includes $500 million crash-victim fund

The settlement also includes a $500 million crash-victim fund that will be used to compensate victims who were not covered by the initial $2 billion offer. The fund will be administered by a third-party claims administrator, and victims will have until December 31, 2023, to file a claim. Boeing has also agreed to make changes to the design of the 737 MAX and to improve its safety procedures. The company has already implemented some of these changes, and it is expected to complete the remaining changes by the end of 2023.

Families of victims react to settlement

The families of the victims have reacted to the settlement with mixed emotions. Some families have expressed relief that Boeing is taking responsibility for the crashes and is providing compensation to the victims. However, other families have criticized the settlement, saying it does not go far enough and that Boeing should be held criminally liable for the deaths of their loved ones. The settlement is a significant step forward in the aftermath of the 737 MAX crashes, but it is likely to be years before the families of the victims can fully heal from their loss.

Boeing Offer