Boeing 737 Max Victim Fund, $100 Mil / $289,017 per person

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2 points·xmichael999··5 comments

$100 million sounds like big bucks, but really to think their one day be proven to be criminal negligence ... they think they are getting off free almost free...

$289,017 a person just doesn't cut it, or even come close to covering the lost income. Let alone cutting the passengers lives short...

Somalia features an expected lifespan of 56.3 years and a per-person GDP of about $500. Taking off some years for childhood, we get about $20,000 as lifetime earnings.

So the $289,017 is over by about a factor of 14.

Only 1 Somali national died in the Ethiopian Airlines crash. The largest group by nationality were 32 Kenyans, and Kenya has a GDP per capita of $1,800/yr. But there were many other nationalities, including many from countries with far higher GDPs. 70 (of 149) were from Canada, the US, and the EU.

The Lion Air victims were almost entirely Indonesian nationals. Indonesian GDP per capita is $3,800/yr.

I get your point, but I don't see any windfalls here. On the face of it, $100 million seems more at the very low end of what might arguably be considered reasonable compensation. The high GDP nationals from the Ethiopian Airlines crash are likely to take a large chunk of that $100 million. Plus people flying, especially those resident in those areas, likely have above average incomes. Seems like Boeing is low-balling. They basically said as much: "We hope this initial outreach can help bring them comfort."

It's a pittance that's comparable to the price of one of the planes that went down. Not even both. No amount of money is justice, but considering that the average wrongful death settlement is much more, this is pretty ridiculous.

Would this imply Boeing acknowledge it's their fault? Would this lead to more suits from families of the passengers?

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