This archive report was first published on 4 July 2019.
On July 3, 2019, Boeing made a significant announcement regarding the 737 MAX plane crashes that claimed 346 lives. The company pledged to give $100 million to communities and families affected by the disasters.
According to Boeing, the $100 million will be used as an 'initial investment' over multiple years to provide 'hardship and living expenses' and boost economic development in regions affected by the crashes of planes operated by Ethiopian Airlines and Lion Air. The company will work with local governments and non-profit organizations to implement this initiative.
Boeing faces numerous lawsuits filed by the victims' families, some of whom have appeared at news conferences or during congressional hearings probing the disasters. The company has also stated that it will match donations from employees to families and communities affected by the accidents.
Boeing chief executive Dennis Muilenburg expressed his condolences to the families and loved ones of those on board, saying, "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."
Boeing referenced 'multiple lawsuits' in an April securities filing, saying it was also cooperating with various regulatory probes. The company stated, "We cannot reasonably estimate a range of loss, if any, that may result given the ongoing status of these lawsuits, investigations, and inquiries," in the securities filing.
