Boeing 737 MAX I This file is licensed under the Creative Commons Attribution-Share Alike 2.0 Generic license | Photo Credit: Representative ImageBoeing shareholders have reached a $237.5 million out-of-court settlement with the US aircraft manufacturer's current and former directors in a 737 MAX aircraft safety negligence case, according to documents released Friday. Shareholders had accused Boeing board members and several executives, as well as current CEO David Calhoun, of failing to ensure that control and information instruments on the 737 MAX were functioning effectively. Boeing has also agreed to hire a mediator to handle internal issues and appoint a board representative with aviation safety experience. The 737 MAX was involved in two crashes -- one operated by Lion Air in October 2018 and the other by Ethiopian Airlines in March 2019 -- that killed a total of 346 people. Developed in 2011 and launched in 2017, the 737 MAX was banned from flying in March 2019, before being declared safe again in November 2020.

Source: Ethiopian News November 06, 2021 08:05 UTC