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Boeing Enlists Attorneys to Oversee $50 Million Boeing Community Investment Fund

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WHY IT RATES: Experienced attorneys Feinberg and Biros have been instructed to immediately begin working with crash victims’ families, governments and other interested parties to route $50 million in funding to their chosen charitable organizations through a donation that remains entirely independent of any pending legal processes. — Laurie Baratti, TravelPulse Associate Writer


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Boeing today announced it has dedicated the remaining $50 million of a previously announced $100 million fund to support humanitarian needs in communities affected by the Lion Air Flight 610 and Ethiopian Airlines Flight 302 accidents.

The Boeing Community Investment Fund will work directly with victims’ families to enable them to donate to eligible charities of their choosing. The company will partner once again with Ken Feinberg and Camille Biros on the fund’s creation, allocation and distribution.

Feinberg and Biros will immediately begin working with families, governments and other interested parties to identify eligible charitable organizations. All monies distributed by Feinberg and Biros will be independent of any resolution provided through the legal process.

“Following months of extensive discussions with victims’ families, government officials, community leaders and others, we determined the best path forward – both for those who lost loved ones and the communities affected by these accidents – is to empower the families to decide how to allocate these funds,” said Tim Keating, Boeing’s executive vice president of Government Operations, who oversees the company’s charitable activities. “Through this donation, it is our hope the families will be able to honor their loved ones in a manner that is both personal and meaningful to them, while also creating a lasting legacy in their communities around the world.”

Work also continues on the previously announced $50 million Boeing Financial Assistance Fund, which is providing near-term financial assistance to families of the victims.

“When we made our initial $100 million pledge, our first priority was to ensure that we provided families with immediate financial assistance,” said Keating. “Ken Feinberg and Camille Biros have made tremendous progress on that effort. Given their success and the trust they have built with the families, we have now asked Ken and Camille to oversee the important work of connecting families with the charitable organizations they deem most meaningful.”

All questions related to the Boeing Community Investment Fund should be directed to the Feinberg Law Offices, c/o Amy Weiss, amy@weisspublicaffairs.com, or 202-203-0448.

For more information, visit Boeing.com.


SOURCE: Boeing press release.

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Airline Travel Hits a 10-Year Low

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Saying that demand for air travel is declining at a rate quicker than airlines are even trimming capacity, the Transportation Security Administration (TSA) says traveling by plane has hit a 10-year low.

As the spread of the coronavirus continues to play havoc with everyday life, airlines are feeling the brunt and trimming flight schedules nearly every day. In fact, with the apex of the virus approaching for New York City, United just announced it is dramatically cutting back service in and out of NYC-area airports.

According to the TSA, airport security checkpoints screened fewer than 125,000 people nationwide on Thursday, April 2. That’s less than 5 percent of the 2.4 million people, including both passengers and crew members, who passed through TSA checkpoints on the same day last year.

Overall, the TSA reported that passenger counts are down about 92 percent – and “passenger traffic is falling much faster than they [airlines] can cut capacity.” In March, TSA screened just under half of the passengers it did in March 2019.

Airlines must continue to keep a minimum of flights and move cargo, as per government provisions of the bailout that was part of the stimulus package.

CNN reported that as a result of the drop in demand, about 20 percent of the US commercial aviation fleet – some 1,200 planes – are parked and have not been used in the last seven days, according to data from Airlines for America. Some airlines have decided to retire older aircraft ahead of schedule.

This post was published by our news partner: TravelPulse.com | Article Source

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