Board members of Boeing will pay 237 million dollars settlement for turning a blind eye to safety issues when they greenlighted 737 max airplanes whose crashes in Ethiopia and Indonesia caused 20 billion dollars damage to aviation company.
The settlement will be paid by insurers covering Boeing’s directors and executives and it will be handed over to the company, instead of investors who sued over the board’s oversight failures, Bloomberg said.
Boeing’s first 737 MAX entered service in 2017 and was grounded worldwide and deliveries halted after the crash of a MAX jet in Ethiopia in March 2019. That came five months after a crash in Indonesia.The crashes killed 346 people.