Boeing Co.’s $50 million financial assistance fund will pay the families of 346 people killed in two fatal 737 MAX crashes $144,500 each, the fund’s administrators said on Monday.
The fund, which is overseen by Washington lawyers Ken Feinberg and Camille S. Biros and was announced in July, will begin accepting claims from family members immediately. Family members will not be required to waive or release the right to litigate as a condition of participation. The 737 MAX has been grounded since March after fatal crashes in Ethiopia and Indonesia.
“We continue to extend our deepest sympathies to the families and loved ones of all those on board,” said Boeing CEO Dennis Muilenburg in a statement. “The opening of this fund is an important step in our efforts to help affected families.”
Boeing also announced in July it plans to spend an additional $50 million to support education and economic empowerment in impacted communities.
Claims must be postmarked no later than Nov. 30. Eligible claims will be paid within ten days from the time that a submitted claim is deemed eligible and all required documentation received, the fund said.
(Reporting by David Shepardson Editing by Marguerita Choy)
Was this article valuable?
Here are more articles you may enjoy.