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Boeing, too big to be punished. Prosecutors have to decide but...

2024-06-29 13:34:44Lifestyle SHKRUAR NGA REDAKSIA VOX

Boeing, too big to be punished. Prosecutors have to decide but...

Justice is not always blind. When it comes to punishing powerful companies, the punishment aims to punish enough to prevent them from repeating the offense in question, but not enough to create chain reactions. A typical example of this dilemma is Boeing, an American icon, which has recently found itself in a whirlwind of problems.

After two crashes that killed 346 people, Boeing reached a settlement in 2021 on the condition that it submit regular reports and pay $2.5 billion, admitting that former employees had misled regulators. The US government says Boeing has failed to fulfill its commitments under the agreement. But Boeing does not accept this charge.

A problem arises here. Boeing is a company with a large financial footprint, which could limit the punishment the government intends to impose. For example, the commercial aircraft industry consists largely of a duopoly between Boeing and European competitor Airbus. It's also the US's largest exporter, with more than $30 billion in revenue by 2023. In other words, what hurts US aircraft manufacturers also hurts many of the small subcontractors who supply parts for the planes his.

One of the biggest threats that comes from prosecuting a company like Boeing, a ban from government contracts, is also difficult to enforce. More than a third of the company's $78 billion in revenue last year came from government contracts.

Boeing's previous guilty pleas, including felonies, didn't stop it from quickly hopping on the government contract train. In 2003, for example, the Air Force exempted some of its units from certain projects, excluding space and missile contracts. And of course there are always fines. These "hurt," but not too much, especially for a company that has already lost about $100 billion in market capitalization over the past five years.


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