Boeing pays billions in settlement

Boeing agreed to pay 2.5 billion dollars as part of a settlement with the US Justice Department, due to the Boeing 737 Max controversy that took place last year. Due to software malfunctions, models crashed last year, resulting in hundreds of deaths. This caused them to ground a large number of their planes and lose a lot of orders. The CEO was eventually fired. The loss was only made worse when the pandemic hit, perhaps causing a loss of as much as 20 billion dollars. Out of the 2.5 billion dollars, 1.77 billion is for compensation of customers who suffered losses due to the grounding of the 737 Max and 500 million is for compensation to the families of those who died. While this settlement clears some criminal charges, Boeing still has various other pending criminal charges.