737 Max model seems to be the worst for Boeing Company

737 Max model seems to be the worst for Boeing Company

Following the court deals after two large crashes of the 737 Model in 2019, Boeing finally reached an agreement to pay 2.5 billion US dollars in various fines and payments. The settlement was reached with the US Justice Department in January 2021.

According to the terms of the agreement, criminal charges will be dropped from the company. Together with that, Boeing has acknowledged that it made attempts to defraud publicity and officials in the entity of the Federal Aviation Administration about the 737’s safety.

It is worth noting that those crashes led to the improvement of flying rules across the world as the general public started to put a large emphasis on flight safety. Also, more people started to refuse flying, preferring other options for transportation instead. The crashes resulted not only in this latest settlement but also cost the company billions of dollars more in lost profits, as countries and companies refused to place orders for this model, and orders for other models also dropped. The company’s chief executive was fired and Boeing had a large stain on its reputation.