The settlements pay out at least $1.2 million per victim, a person familiar with the matter said. Boeing did not immediately respond to a request for comment. The aviation giant still faces more than 100 lawsuits in federal court in Chicago following the Lion Air Crash and a second crash of an Ethiopian Airlines plane in March that led to the global grounding of the top-selling 737 MAX.
Boeing in July announced that it would spend $100 million on communities and families affected by the 737 MAX disasters. On Monday, the Boeing Financial Assistance Fund said it was open to accepting claims and would spend $50 million on immediate financial assistance to families. The families of the 346 passengers will each receive about $144,500 and will not be required to waive the right to sue the company, said Kenneth Feinberg, the administrator of the fund.