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Feinberg to lead Boeing 737 MAX victim fund -sources

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The U.S. Justice Department will name victim compensation experts Ken Feinberg and Camille Biros to oversee a half-billion-dollar victim compensation fund tied to the two deadly crashes of the Boeing 737 MAX, sources familiar with the matter told Reuters exclusively on Wednesday.

An official announcement could come just in time for the two-year anniversary of the deadly Ethiopian Airlines crash of a Boeing 737 MAX that prompted a world-wide grounding of the plane.

Relatives of the 346 people killed in the two 737 MAX crashes - the Ethiopian crash in March 2019 and and the Lion Air disaster five months before that - are eligible for compensation.

Feinberg is no stranger to the task. He ran the high-profile victim compensation funds for the Sept. 11 attacks and the BP Deepwater Horizon oil spill.

The half-a-billion dollars to be doled out comes from a January settlement between Boeing and the DOJ.

The 737 MAX, Boeing's best-selling jet, is flying again in some parts of the world after the disgraced planemaker assured airlines and regulators in many countries that it fixed a software glitch linked to the two disasters.

The U.S. Federal Aviation Administration is keeping a watchful eye on the MAX, tracking all flights of the plane via satellite data.

Relatives of crash victims, however, are angry the plane has been allowed to return to service after its 20-month grounding in the U.S.

Video Transcript

- The US Justice Department will name victim compensation experts Ken Feinberg and Camille Biros to oversee a half-billion-dollar victim compensation fund tied to the two deadly crashes the Boeing 737 MAX, sources familiar with the matter told Reuters exclusively on Wednesday. An official announcement could come just in time for the two-year anniversary of the deadly Ethiopian Airlines crash of a Boeing 737 Max that prompted a world-wide grounding of the plane. Feinberg is no stranger to the task. He ran the high-profile victim compensation funds for the September 11th attacks and the BP Deepwater Horizon oil spill. Relatives of the 346 people killed in the two 737 MAX crashes-- the Ethiopian crash in March 2013 and the Lion Air disaster five months before that-- are eligible for compensation. The half-a-billion dollars to be doled out comes from a January settlement between Boeing and the DOJ.

The 737 Max, Boeing's best selling jet, is flying again in some parts of the world after the disgraced playmaker assured airlines and regulators in many countries that it fixed a software glitch linked to the two disasters. The US Federal Aviation Administration is keeping a watchful eye on the Max, tracking all flights of the plane via satellite data. Relatives of crash victims, however, are angry the plane has been allowed to return to service after its 20-month grounding in the US.