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Boeing has agreed to plead guilty to a felony charge of conspiring to defraud the federal government over the 737 Max crashes.
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The company will pay a $487.2 million fine and invest $455 million in safety programs over three years.
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Boeing will be put on probation for three years and face additional penalties if it violates the terms of the agreement.
Boeing has reached a deal with the Justice Department to plead guilty to a felony charge related to the two deadly crashes of the 737 Max in 2018 and 2019. The company will pay a $487.2 million fine, the maximum allowed by law, and invest at least $455 million over the next three years to strengthen its compliance and safety programs.
The agreement also requires Boeing to be put on probation for three years, during which time it will be supervised by the Federal District Court for the Northern District of Texas. An independent compliance monitor will be appointed to ensure that safety measures are in place and followed. Boeing’s board of directors will also be required to meet with crash victims’ families.
The deal is significant as it marks the first time in decades that Boeing has been convicted of a federal felony. The company’s decision to plead guilty is seen as a major development in the criminal investigation into the 737 Max crashes, which killed 346 people. However, some families of the victims have expressed disappointment with the deal, saying it does not go far enough in holding Boeing accountable for the tragedy.
