(Updates with more details on the agreement in the fourth paragraph.)
Boeing (BA) and the US government agreed in principle to the terms of a non-prosecution agreement relating to two 737 Max crashes that occurred more than six years ago, according to a court filing Friday.
"The parties are proceeding expeditiously to memorialize the terms into a written agreement," according to the filing.
Boeing declined to comment to MT Newswires.
Several media outlets reported the agreement, stating Boeing will pay more than $1.1 billion in fines and compensation to victims' families, and over $455 million to improve its compliance, safety, and quality programs.
Shares of Boeing were up over 1% in recent premarket activity Tuesday.
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