Officials from the Boeing Company announced that they have dedicated $50 million to the families of victims killed in two crashes involving 737 MAX airplanes. The money was a part of the previously announced $100 million fund, reports Travel Pulse. The 346 people were killed in the Boeing 737 MAX crash.
Fund to be distributed among family members of victims of the Boeing 737 MAX crash
The near-term financial assistance will help those impacted by the Lion Air Flight 610 and Ethiopian Flight 302 accidents. Further, the official fund will be established with Kenneth Feinberg and Camille Biros who are victims’ compensation funds experts. Feinberg has administered many compensation funds. These include funds for victims of the 9/11 attacks in the United States, General Motors ignition switch crashes and numerous school shootings.
Dennis Muilenburg, chairman and CEO at Boeing said in a statement:
“The tragic loss of life in both accidents continues to weigh heavily on all of us at Boeing, and we have the utmost sympathy for the loved ones of those on board. “Through our partnership with Feinberg and Biros, we hope affected families receive needed assistance as quickly and efficiently as possible.”
The money will remain independent of the outcome of any lawsuit
The funds are dedicated to address family and community needs of the loved ones of the victims. It will be distributed by Feinberg and Biros. Additionally, it will remain independent of any resolution provided through the legal process. Also, the remaining $50 million in the fund is earmarked for government and community projects.
Biros said in a statement: “We know how important it is to assist the families of the victims who have endured a personal tragedy and will work to design and administer the fund and distribute the money as efficiently and expeditiously as possible.”
The news of the compensation comes just days after American Airlines extended its cancellations of flights scheduled to operate on a 737 MAX aircraft through November 2.