Boeing is to plead guilty to a criminal fraud conspiracy charge to resolve a US investigation into two fatal 737 MAX crashes.
An official at the US Department of Justice (DoJ) revealed overnight that Boeing would pay a $243.6m (£190.1m) fine and invest at least $455m (£355m) over three years to strengthen its safety and compliance programmes as part of the plea deal.
The settlement, which Boeing acknowledged but did not comment on, marks the second time the planemaker has been offered a plea bargain by the department relating to the crashes of 2018 and 2019 that were blamed on flawed flight control software.
A total of 346 people died in the incidents which involved a Lion Air MAX 8 flight in Indonesia and then, six months later, Ethiopian Airlines Flight 302 outside Addis Ababa.
Relatives of those killed, who accused US authorities of letting Boeing off the hook through a $2.5bn (£1.95bn) settlement in 2021, had demanded last month a fresh fine of almost $25bn (£19.7bn).
They also sought the imposition of criminal proceedings.
The new settlement with the DoJ, which was described by a lawyer for the families as a “sweetheart deal”, will ensure there is no trial.
Officials filed a case in May which accused the planemaker of breaching the terms of the deferred prosecution agreement in 2021.
The terms of that deal were due to expire in January this year but, two days beforehand, a Boeing 737 MAX 9 aircraft operated by Alaska Airlines suffered a mid-air panel blowout.
The incident has been the subject of multi-agency investigations, including by the DoJ, since.
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