Boeing Pays Fine With $12 Million Due To The FAA Penalties

Boeing has accepted the multiple issues regarding quality control pointed out by the Federal Aviation Administration and is now paying a fine worth $12 million.

Boeing has agreed to pay a five-year settlement with the Federal Aviation Administration costing $12 million in order to improve its products quality and auditing, as announced on Tuesday. The $12 million that the aircrafts maker has to pay is a penalty settlement with the regulators, as the company also failed to meet some deadlines where it had to give fuel tank safety instruction to some of the airlines.

Boeing Co. has accepted to pay this amount as a penalty and is making efforts to improve certifications due to the pressures it has faced by the FAA. The Aviation Administration said regarding this development that “it does not allege that these issues created unsafe conditions” while the US Transportation Secretary, Anthony Foxx, said, “It is imperative that everyone complies with our aviation system’s high safety standards, this agreement is an important step toward ensuring that Boeing fully meets all applicable compliance standards going forward.”

The aerospace company has also been charged for other multiple issues and violations. Some of these issues are old and being addressed now. This raises concerns that agencies taking care of safety and security of traveling equipment are not as efficient as they claim to be and what the public think of them to be.

The company thinks of this settlement as resolving of issues and pushing the business to enhance its products even more. It said, “We are actively working on the areas identified in the agreement.” The agreement states that the organization will now need to follow FAAs requirement and standards, even in written submissions.

Boeing’s public copy of the settlement agreement was not provided because it contained detailed proprietary information, according to a spokeswoman for the FAA. The organization was also reported to not take the necessary actions when one of its suppliers provided it with improper fasteners. It is relieving to know that it is taking responsibility while trying to change the problems it is facing.

Boring is going to share its audit results with the FAA and even provide the firm with a briefing on the actions. Many other faced charges are not revealed yet, but the strong actions taken by theFAA indicate that it must have been surrounded by serious problems.

The Federal Aviation’s administrator, Michael Huerta, said, “Boeing has agreed to implement improvements in its design, planning, production and maintenance planning processes, and has already implemented several of these improvements.”

Boeing stock closed at $142.37 after going green by 1.04% on December 22.