The airline company, Boeing is still recovering from the disasters in October and March, which resulted in the deaths of 346 people in Indonesia and Ethiopia.
These funds will be available over the next few years, and are separate from any additional compensation Boeing will have to pay in eventual litigation fees.
The company’s Chairman and CEO Dennis Muilenburg said: “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. The families and loved ones of those on board have our deepest sympathies, and we hope this initial outreach can help bring them comfort. We are focused on re-earning that trust and confidence from our customers and the flying public in the months ahead.”
After the second crash in Ethiopia, the FAA (Federal Aviation Administration) grounded the airplane until Boeing could prove without a doubt that they have resolved the defects in the 737 that caused the crashes.
The families of the victims of these crashes will not have to waive their rights to sue the company if they opt to take the money from this relief fund.
Boeing is under constant criticism for their design of the 737, with experts pointing out the rushed nature of their 737 Max MCAS flight control software, which is suspected to be the cause of both crashes.
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