BOEING SETS ASIDE $100 MILLION FOR FAMILIES OF 737 MAX CRASH VICTIMS

  • The funds will be available over the next several years, Boeing said.
  • They aren’t part of any compensation Boeing may have to pay to those who sue the company for damages related to accidents.
  • A total of 346 people died in the two crashes in October and March.

Boeing, still reeling from the two deadly 737 Max crashes, is setting aside $100 million to assist the families of victims and communities impacted by the accidents in October and March that killed 346 people.

The funds will be available over the next several years and are not part of any compensation Boeing may have to pay to those who sue the company for damages related to accidents.

Days after the second 737 Max jet crashed in Ethiopia, the FAA and other aviation regulators around the world grounded the airplane until the company could fix defects in the aircraft and prove it is safe for commercial flights. The plane has now been grounded for more than three months and Boeing has said it is unlikely questions about the plane’s safety will be resolved until sometime in the September time frame.

“We at Boeing are sorry for the tragic loss of lives in both of these accidents and these lives lost will continue to weigh heavily on our hearts and on our minds for years to come,” Boeing Chairman and CEO Dennis Muilenburg said in a release announcing the funds. “The families and loved ones of those on board have our deepest sympathies, and we hope this initial outreach can help bring them comfort.”

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