Boeing (NYSE: BA) issued the following statement following today's settlement announcement by the U.S. Federal Aviation Administration:
Boeing appreciates the dedication of both the Federal Aviation Administration and Boeing personnel who worked to reach the agreement announced today. This agreement reflects Boeing's deep and shared commitment to safety, quality and compliance – a commitment that has helped make travel on large commercial airplanes the safest means of transportation in history.
Boeing believes that this agreement not only fairly resolves announced and potential civil penalty actions – most of which date back years, and two of which were previously announced in 2012 and 2013 – but also will further enhance Boeing's self-correcting quality and compliance systems. Under the terms of the agreement, Boeing has agreed to pay $12 million and make additional quality and compliance process improvements. Many of the improvements listed in the agreement have already been implemented or are in the process of implementation.
As a company we take responsibility for our actions, and we will never compromise on our commitment to quality and compliance – a commitment that is one of the core reasons we build the best airplanes in the world. We are actively working on the areas identified in the agreement and see this as another way to continually improve our compliance system.
Source: The Boeing Company (NYSE: BA)
Date: Dec 22, 2015