Boeing has opened a $US50 million fund designed to provide immediate financial assistance to the families of the 346 victims of the two 737 MAX tragedies.
The payout works out to about $144,500 per family is part of an $US100m expenditure by the aerospace giant to address the family and community needs of those affected by the crashes of Lion Air Flight 610 and Ethiopian Airlines Flight 302.
The start of operations was announced Monday by the two administrators of the Boeing Financial Fund, Kenneth R. Feinberg and Camille S. Biros, and comes as the company faces almost 100 lawsuits by law firms representing families.
READ: More than 150,000 stranded as Thomas Cook collapses.
Participants in the fund are not required to waive or release the right to litigate as a condition of participation.
“The recent 737 MAX tragedies weigh heavily on all of us at Boeing, and we continue to extend our deepest sympathies to the families and loved ones of all those on board,” Boeing chief executive Dennis Muilenburg said in a statement. “The opening of this fund is an important step in our efforts to help affected families. We thank Ken Feinberg and Camille Biros for their important work leading this effort.”
The second part of the $US100m will support “education and economic empowerment in impacted communities” through partnerships with local governments and non-profit partnerships.
The manufacturer has also partnered with Global Impact to establish the One Boeing Support Fund, a separate charitable fund backed by Boeing employees and retirees that has so far raised more than $780,000.
The start of the fund comes as The Wall Street Journal reported that draft findings by Indonesian crash investigators had found design and supervisory flaws at Boeing played a key role in the Lion Air crash on October 2018.
The unpublished report is also expected to point a string of pilots errors and maintenance mistakes as factors.
The Journal said a final report was likely due early November.
