by Donald Wood
Last updated: 4:39 PM ET, Wed September 25, 2019
Boeing announced Monday it would pay the families of the 346 victims killed in two crashes involving the grounded 737 MAX airplanes approximately $144,500 each.
According to Reuters.com, Boeing CEO Dennis Muilenburg said the company would disperse the compensation from a newly opened fund, which he called "an important step in our efforts to help affected families."
"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," Muilenburg said.
Boeing's compensation fund will provide $50 million in immediate assistance to families and $50 million toward education and economic empowerment in impacted communities. The fund was created to address family and community needs of those affected by the tragedies.
In addition, the families of victims do not have to waive their right to sue Boeing to receive funds. The airplane manufacturer also announced this week it had raised more than $780,000 from employees and retirees, which will also be distributed to the families of victims.
The 737 MAX fleet has been grounded since March following the crashes of Lion Air Flight 610 in October 2018 which killed 189 people and Ethiopian Airlines Flight 302 in March which killed 157 people.
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