$500 Million to be Compensated to the Families of The Two Boeing 737 MAX Crashes
A fund worth $500 million has been raised to be used to compensate the families of the two Boeing 737 MAX crashes.
The Lion Air and Ethiopian Airline crashes involving Boeing 737 MAX claimed the lives of 346 people.
The crashes resulted in a 20-month worldwide ban and Boeing was slammed with a fine of $2.5 billion. Boeing avoided criminal prosecution by agreeing to pay this fine.
Families of the crash victims are given until October to submit their claim and each family is to receive an estimated $1.45 million.
Boeing 737 MAX was certified again and is commercially used in some parts of the world. Boeing began the test phase for the large 737-10 MAX variant.