Tuesday, October 4, 2022

Boeing fined for cheating on 737 Max

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Boeing fined for cheating on crashed 737 Max

Three years after the fatal crash of two Boeing 737 Max aircraft, the US Securities and Exchange Commission has fined the aircraft manufacturer Boeing $200 million (around CHF 195).

Rescuers search for survivors in the wreckage of the Boeing 737 Max 8 that crashed in Kenya in 2019. 149 passengers and 8 crew members died in the accident.

Boeing “negligently” violated the anti-fraud provisions of the US securities laws, the SEC said in a statement released on Thursday. The company allegedly misled the public about the safety of the 737 Max aircraft after the deadly crashes in 2018 and 2019.

Boeing put “profits over lives,” the SEC said. The aircraft manufacturer agreed to pay the fine to end the case. In addition, former Boeing CEO Dennis Muilenburg agreed to pay $1 million to settle a civil lawsuit against him over the same allegations.

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