Boeing : Reaches $2.5 Billion Settlement of U.S. Probe Into 737 MAX Crashes

By Dave Michaels and Andrew Tangel

Boeing Co. has reached a $2.5 billion settlement with the Justice Department in which it plans to admit wrongdoing to resolve a criminal investigation into whether its employees misled regulators about safety issues two deadly crashes of the 737 MAX, according to court filings.

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The settlement, which was filed Thursday in Dallas federal court, would lift a legal cloud that has hung over Boeing for about two years since the crashes. Federal prosecutors had been investigating Boeing's high-profile lapses in informing the Federal Aviation Administration about 737 MAX safety shortcomings before and after the tragedies.

The settlement includes a $243 million fine as well as $2.2 billion in compensation to airline customers and families of 346 people who were killed in two MAX crashes.

Write to Dave Michaels at [e-mail] and Andrew Tangel at [e-mail]

(END) Dow Jones Newswires

01-07-21 1640ET