Boeing said it would take a $743.6 million charge against its fourth-quarter 2020 earnings to reflect the deferred prosecution agreement, a form of corporate plea bargain. The crashes triggered a hailstorm of investigations, frayed U.S. leadership in global aviation and have cost Boeing some $20 billion. The 737 MAX was grounded in March 2019, and the grounding was not lifted until November 2020, after Boeing made significant safety upgrades and improvements in pilot training. It faces a three-year deferred prosecution agreement, with the charge dismissed if it complies. DECEPTIONBoeing admitted in court documents that two of its 737 MAX technical pilots deceived the FAA about a safety system called MCAS, which was tied to both fatal crashes.

Source: Ethiopian News January 08, 2021 02:48 UTC