Boeing Pledges $100M To Victims Of 737 Max Crashes

The New York Times reports:

Boeing said on Wednesday that it would allocate $100 million to help the families and communities affected by the recent crashes of two of its 737 Max jets.

The move was among the most overt acknowledgment of Boeing’s responsibility in the crashes, which were caused in part by a malfunctioning anti-stall system on the new jets.

It will also add to the company’s mounting costs, as it faces lawsuits from victims’ families, investigations by federal authorities and calls for compensation from airlines.

Axios reports:

The business brought in $101.1 billion in 2018, and $22.9 billion the first quarter of 2019 alone. The $100 million pledge will be distributed over the course of multiple years.

The backdrop: Lion Air Flight 610 crashed in Indonesia, killing the 189 passenger on board last October, and an Ethiopian Air Flight 302 fatally crashed in Kenya, killing all 157 passengers this March.