Boeing Co said on Wednesday it would give $100 million over multiple years to lo...
SEATTLE/CHICAGO - Boeing Co said on Wednesday it would give $100 million over multiple years to local governments and non-profit organizations to help families and communities affected by the deadly crashes of its 737 MAX planes in Indonesia and Ethiopia.
Boeing is the target of a U.S. Department of Justice criminal investigation into the development of the 737 MAX, regulatory probes and more than 100 lawsuits by victims’ families. Many of the passengers on board the Ethiopian Airlines flight were aid workers or involved with health, food, or environmental programs.
The 737 MAX was grounded worldwide after the second crash and regulators must approve the fix and new pilot training before the jets can fly again. “The Boeing brand is worth far more than $100 million and the board and executive leadership understand that is what is at stake,” said William Klepper, a Columbia Business School professor.
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