Boeing To Pay $200 Million Settlement Over Deadly Crashes

Boeing 737 airplane with landing gear

Photo: Getty Images

Boeing has agreed to pay a $200 million settlement in connection with two deadly crashes that killed a total of 346 people.

The SEC charged the airline maker with misleading the public about the safety of its 737 Max plane, and the faulty automated flight control system that was behind both crashes in 2018 and 2019...

$1 Million will be paid by former Boeing CEO Dennis Muilenburg, who publicly declared the planes to be safe despite being aware of potential issues.

"In times of crisis and tragedy, it is especially important that public companies and executives provide full, fair, and truthful disclosures to the markets," SEC chair Gary Gensler said. "The Boeing Company and its former CEO, Dennis Muilenburg, failed in this most basic obligation. They misled investors by providing assurances about the safety of the 737 Max, despite knowing about serious safety concerns."

And just last year, Boeing reached a separate settlement for $2.5 billion with the Justice Department.

Read more on Travel Weekly.

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