Boeing to pay $200m over 737 Max crash statements

Boeing is to pay out $200m (£177.5m) over charges that it misled investors about two fatal 737 Max crashes.

The US stock market regulator said the aviation giant and its former chief executive Dennis Muilenburg made false statements about safety issues.

Boeing “put profits over people” in an effort to rehabilitate its image, according to the Securities and Exchange Commission (SEC).

The 737 Max was grounded for 20 months after two crashes killed 346 people.

As part of the settlement Mr Muilenburg will also pay a penalty of $1m.