Boeing has been fined more than $2.5 billion

Boeing has been fined more than $2.5 billion

Boeing settled criminal conspiracy charge over its 737 Max crushes

Amid criminal probe with the US Justice Department, Boeing agreed to pay a fine that tops $2.5 billion. The airline was accused of concealing information about its 737 Max airplanes involved in two crashes that impacted 346 lives.

According to prosecutors, the company "knowingly and willfully" defrauded the US by undermining the FAA's (Federal Aviation Administration) ability to assess the plane's safety.

Boeing admitted the wrongdoings and waived its rights to a trial due to its deal with the US Justice Department. The $2.51 billion fine is made up of $243.6 million criminal penalty, $1.77 billion for its customers, and $500 million for crash victims' family members.

The two crashed caused the worst-ever crisis for Boeing, which lasted for approximately two years, having an impact on its reputation of being the "world's largest aircraft manufacturer."

Following the news, in after-hours trading, Boeing stock price fell 0.22%.

Sources: france24.com, cnbc.com

The information presented herein is prepared by CAPEX.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.