AssetID: 54824688
Headline: UNCAPTIONED: Boeing to Pay $1.1 Billion Settlement Over Two Deadly 737 Max Crashes
Caption: Boeing to Pay $1.1 Billion Settlement Over Two Deadly 737 Max Crashes. Boeing has agreed to a $1.1 billion settlement with the US Justice Department to avoid criminal prosecution related to two fatal 737 Max crashes that killed 346 people. The crashes happened in October 2018 and March 2019, involving Lion Air and Ethiopian Airlines flights. Both accidents were caused by faulty flight control systems. As part of the deal, Boeing will pay $444.5 million to the families of victims and dedicate $455 million to improving safety and compliance programs. Additionally, the company agreed to a $487.2 million criminal penalty, half of which was paid in 2021. If a federal judge approves the agreement, Boeing will avoid a criminal fraud trial. The company expressed its commitment to honoring the victims and making deep changes to improve safety. This settlement marks a significant step toward accountability for the tragic crashes. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current affairs & Politics,Boeing,$1.1 billion settlement,US Justice Department,criminal prosecution,737 Max crashes,346 deaths,October 2018,March 2019,Lion Air,Ethiopian Airlines,faulty flight control systems,$444.5 million compensation,victims' families,$455 million safety programs,$487.2 million criminal penalty,2021 partial payment,federal judge approval,criminal fraud trial avoidance,safety commitment,accountability,tragic crashes.
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