Most of the $2.5bn paid by Boeing in Max 737 case will go to airlines

A Boeing 737 Max gives a display during the opening day of the Farnborough International Airshow in Hampshire. File Picture

Boeing reached a $2.5bn (€2bn) agreement to settle a criminal charge that it defrauded the US government by concealing information about the 737 Max, the ill-fated jet model involved in two fatal crashes that killed 346 people.

The planemaker entered into a deferred prosecution agreement in a court in Texas. In turn, the US Justice Department will dismiss the charge against Boeing after three years if the company cooperates with the government, including by making current and former officials available to testify before a federal grand jury or in trials.