Title: Boeing Jet Crashes After Takeoff From Jakarta - TheStreet
Headings: Boeing Jet Crashes After Takeoff From Jakarta
Boeing Jet Crashes After Takeoff From Jakarta
Content: FlightRadar24, a website that monitors aircraft movements, tracked the plane plunging to 250 feet from 10,900 feet, Bloomberg reported. The crash comes just days after jetmaker Boeing agreed to pay a $2.5 billion fine over fraud and conspiracy charges linked to its 737 MAX jet program. The settlement involves a criminal penalty of $243.6 million, based on the conduct of two former MAX program technical pilots, and the establishment of a $500 million fund to provide compensation for families of the victims of the Lion Air and Ethiopian Airlines crashes, the company said. Boeing said the deferred prosecution agreement with the Department of Justice, which it entered into on Thursday, will impact the company's fourth-quarter earnings by $743.5 million. "I firmly believe that entering into this resolution is the right thing for us to do - a step that appropriately acknowledges how we fell short of our values and expectations," said CEO Dave Calhoun. " This resolution is a serious reminder to all of us of how critical our obligation of transparency to regulators is, and the consequences that our company can face if any one of us falls short of those expectations." Boeing's 737 MAX was approved to fly again by the Federal Aviation Administration in November. Boeing is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stock? Learn more now.