Boeing Co will pay over US$ 2.5 billion to resolve a U.S. investigation into criminal conspiracy charges related to two deadly 737 MAX crashes that killed 346 people, the Justice Department said, but the plane maker will not be required to plead guilty.Add your comment!
Brazilian aircraft manufacturer Embraer reported second-quarter losses of US$ 315 million on Wednesday, as sales plunged due to the coronavirus pandemic and a proposed joint venture with Boeing collapsed.
Boeing customers cancelled orders for 355 of its 737 MAX jets in the first half of 2020, the US planemaker said on Tuesday, as the damage done by the jet's grounding and the coronavirus crisis to the airline industry continued to mount.
A union representing workers at planemaker Embraer filed a lawsuit on Friday seeking to dismiss the company's board, after a US$4.2 billion deal with Boeing Co collapsed amid the pandemic, leaving the Brazilian jet-maker scrambling for a new path forward.
Norwegian Air Shuttle has notified Boeing that it is terminating purchase agreements for all 97 of its remaining jets on order with the US planemaker. The decision covers 92 of Boeing's 737 Max planes, five 787 Dreamliners and a related maintenance pact, Norwegian said in a statement on Monday.
Boeing confirmed it was eliminating more than 12,000 US jobs, including 6,770 involuntary layoffs, as the largest US planemaker restructures in the face of the coronavirus pandemic. Boeing also disclosed it plans several thousand remaining layoffs in the coming months but did not say where those would take place.
Brazil airline Gol Linhas Aereas Inteligentes said on Wednesday it will receive a total of 2.4 billion reais (US$412.03 million) from Boeing Co as compensation for the grounding of the 737 MAX plane, which has not flown in over a year.
Brazilian planemaker Embraer SA has been thrust into an uncertain future with no immediate plan B, while not ruling out seeking a bailout after Boeing Co jettisoned a US$ 4.2 billion commercial aerospace tie-up amid the coronavirus crisis.
Boeing Co's ousted chief executive officer, Dennis Muilenburg, stands to receive US$62 million in long-term incentive, stock awards and pension benefits, but forfeited US$14.6 million and will receive no severance, the planemaker said in a regulatory filing on Friday.
American Airlines on Monday became the latest carrier to reach an agreement with Boeing on compensation to cover the financial losses connected to the 737 MAX grounding, which caused thousands of flights to be canceled.