The company will install a corporate monitor and be required to spend at least US$455 million to bolster its compliance and safety programs over the next three years as part of the deal, which requires court approval. It would also be subject to three years of court-supervised probation.
Boeing Co has agreed to plead guilty to criminal conspiracy to defraud the US after the Justice Department concluded the planemaker failed to adhere to an earlier settlement stemming from two fatal crashes of its 737 Max jetliner.
Under the agreement in principle with US prosecutors, Boeing faces a criminal fine of as much as US$487.2 million ($656.8 million), the maximum allowed by law, though the actual amount will be determined by a judge, according to the Justice Department.
