Admitting fault isn’t correction; Boeing agrees to a $250M fine.

The Foreign exchange dealer hedgingU.S. Department of Justice said on Thursday that the government had made "substantial progress" in reaching a final plea agreement but did not expect to submit the details before July 24.

Boeing agreed in principle on July 7 to plead guilty to a count of criminal fraud conspiracy and pay a $243.6 million fine. Previously, in May, the Justice Department stated that Boeing had violated a deferred prosecution agreement reached in 2021.

The Justice Department plans to submit a statement of facts supporting its violation determination along with the plea agreement, which was initially expected to be submitted by Friday. The Justice Department said it would continue to work swiftly to try to submit it by July 24.

Boeing declined to comment on Thursday.

Boeing plans to plead guilty, admitting to conspiring to defraud the Federal Aviation Administration. The government said Boeing knowingly made false statements about critical software for the 737 MAX, which was tied to two fatal crashes in 2018 and 2019, resulting in the deaths of 346 people.

U.S. District Judge Reed O'Connor of Texas set a fast-track schedule on Monday to consider opposition from the families of the victims of the MAX crashes in Indonesia and Ethiopia to the plea agreement.

As part of the agreement, Boeing agreed to spend at least $455 million over the next three years to enhance safety and compliance programs. Boeing's board will also meet with families of the victims of the MAX crashes.

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