A team of divers recovered one of the plane’s so-called black boxes, the flight data recorder (FDR), from the seabed earlier this week.

The government and the company said Thursday that the settlement includes money for the crash victims' families, airline customers and a fine.

Last month, the Federal Aviation Administration approved changes that Boeing made to an automated flight-control system implicated in crashes in Indonesia and Ethiopia.

The FAA said it had worked closely with other international regulators to conduct "a thorough and deliberate review" of the 737 MAX after the aircraft suffered two fatal crashes.

Boeing’s 737 MAX 8 has been grounded for nearly two years due to a pair of tragic crashes that killed 346 people.

The Max has been grounded in Canada since March 2019, following two crashes that killed hundreds of people.

The U.S. Federal Aviation Administration cleared the planes for flight early Wednesday, 20 months after Ethiopian Airlines flight 302 went down near Addis Ababa, killing all 157 on board — including 18 Canadians.

The move would come after numerous congressional hearings on the crashes that led to criticism of the FAA for lax oversight.

Boeing and the FAA declined to comment on the legislation.

Chief Executive Dave Calhoun told employees Boeing now expects to eliminate some 30,000 jobs to reach a workforce around 130,000 by end-2021.