Boeing dedicates $50M to provide NT financial assistance for families
Boeing announced that it has dedicated $50M of a previously announced $100M fund to provide near-term financial assistance to families of the victims of the Lion Air Flight 610 and Ethiopian Flight 302 accidents. Boeing also announced that it has retained Kenneth Feinberg and Camille Biros to design and administer the fund. "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," said Dennis Muilenburg, Boeing chairman, president and CEO. "Through our partnership with Feinberg and Biros, we hope affected families receive needed assistance as quickly and efficiently as possible." The $50M fund represents the initial expenditure of a $100M pledge by Boeing to address family and community needs of those affected by the accidents. All monies distributed by Feinberg and Biros will be independent from any resolution provided through the legal process.