Boeing Agrees to Felony Plea. Now Its Future Is Up in the Air.

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The Wall Street Journal

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🗓️ 9 July 2024

⏱️ 18 minutes

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Summary

In a stunning concession, Boeing agreed Sunday to plead guilty to misleading air-safety regulators ahead of two deadly 737 MAX crashes in 2018 and 2019. WSJ’s Andrew Tangel reports on Boeing’s long and complicated journey to the plea deal and what a felony record would mean for the company. Further Listening: -The Failures Inside Boeing’s 737 Factory -A Hole in a Plane and a Headache for Boeing Further Reading: -Boeing Agrees to Plead Guilty in 737 MAX Criminal Case -Inside DOJ’s Wrenching Decision on Whether to Prosecute Boeing -Boeing Violated Criminal Settlement After 737 MAX Crashes, Justice Department Says Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Boeing, the world's largest aerospace company, has agreed to plead guilty to a crime.
0:12.0	Boeing has agreed to plead guilty.
0:14.2	Boeing will plead guilty to a criminal fraud charge for misleading the FAA.
0:19.0	Boeing pleading guilty to one criminal fraud charge
0:21.8	in a controversial deal with the Department of Justice.
0:25.2	The plea relates to two deadly crashes in 2018 and 2019.
0:31.0	And it's a stunning concession that would make Boeing a felon.
0:37.0	And what does it mean for a company to be a convicted felon?
0:40.0	For a company like Boeing, it can have big implications for its ability to do
0:48.3	business with the federal government. It could lead to its suspension or debarment as a contractor for the Pentagon.
0:58.0	And so that would be a very big problem for Boeing.
1:02.0	That's our colleague Andrew Tangle. Secondly, if it's a
1:05.9	convicted felon it could lead to harsher penalties the next time Boeing runs into
1:12.0	criminal trouble.
1:15.0	How significant a moment is this for Boeing, for the airline industry?
1:22.0	It's a big moment for Boeing.
1:25.0	It's an iconic American manufacturer that is very important
1:31.0	for the global aviation industry and the United States's national defense.
1:40.0	A guilty plea, you know, it carries symbolic weight for any company.
1:44.7	And this is the conclusion of a very long legal odyssey that started with these two plane crashes which set into motion the most
1:56.7	serious crisis this company has faced in its storied more than a hundred year history.
2:03.7	Welcome to the journal, our show about money, business and power.
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