Boeing on July 3 announced an interim compensation of $100 Million for the kin and communities of 346 persons killed in the two crashes involving the 737 Max 8 aircraft.

Terming this offer as "initial outreach", Boeing Chairman, President and CEO Dennis Muilenburg expressed the hope that this would bring comfort to the families and loved ones of those killed.

"These funds will support education, hardship and living expenses for impacted families, community programmes, and economic development in impacted communities. Boeing will partner with local governments and non-profit organizations to address these needs. This initial investment will be made over several years," Boeing announced in a statement.

"These funds will support education, hardship and living expenses for impacted families, community programmes, and economic development in impacted communities. Boeing will partner with local governments and non-profit organizations to address these needs. This initial investment will be made over several years," Boeing announced in a statement

"We at Boeing are sorry for the tragic loss of lives in both of these accidents and these lives lost will continue to weigh heavily on our hearts and on our minds for years to come. The families and loved ones of those on board have our deepest sympathies, and we hope this initial outreach can help bring them comfort," Muilenburg said.

"We know every person who steps aboard one of our airplanes places their trust in us. We are focused on re-earning that trust and confidence from our customers and the flying public in the months ahead," the Boeing Chairman said.

Boeing has struggled to limit the damage after the two crashes. The American aviation behemoth has sought to address a full-blown crisis which led to the grounding of the Boeing 737 Max 8 fleet worldwide after the crashes were attributed to faulty software and inadequate pilot training to operate this fleet.

"We know every person who steps aboard one of our airplanes places their trust in us. We are focused on re-earning that trust and confidence from our customers and the flying public in the months ahead," the Boeing Chairman said

It also faces colossal class action suits in the US for exemplary compensation.

The two crashes involved the Indonesian carrier Lion Air and Ethiopian Airlines. Lion Air Flight 610 crashed into the Java Sea on October 29, 2018, 12 minutes after takeoff from Jakarta , killing all 189 on board. On March 10, 2019, Ethiopian Airlines Flight 302 crashed six minutes after takeoff from Nairobi near the town of Bishoftu, killing all 157 persons on board.