Boeing dedicates $50 million to near-term relief for families of crash victims

Boeing Press Release | July 17, 2019

Estimated reading time 2 minutes, 19 seconds.

Boeing announced that it has dedicated US$50 million of a previously announced US$100 million 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, renowned experts in establishing and overseeing victims’ compensation funds, to design and administer the fund.

The US$50 million fund represents the initial expenditure of a US$100 million 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. Boeing Photo
The US$50 million fund represents the initial expenditure of a US$100 million 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. Boeing Photo

“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 US$50 million fund represents the initial expenditure of a US$100 million 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.

“We are honored to take on this important assignment of providing needed financial relief to the families of these two tragedies,” added Feinberg.

Co-Administrator Biros continued, “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.”

Notice a spelling mistake or typo?

Click on the button below to send an email to our team and we will get to it as soon as possible.

Report an error or typo

Have a story idea you would like to suggest?

Click on the button below to send an email to our team and we will get to it as soon as possible.

Suggest a story

Leave a comment

Your email address will not be published.