05:47 AM EDT, 07/09/2024 (MT Newswires) -- The Pentagon plans to review Boeing's ( BA ) ability to procure US military and government contracts if it pleads guilty to federal criminal charges, Reuters reported Monday, citing a US defense official.

Reuters reported the official as saying the Pentagon is seeking "to make a determination as to what steps are necessary and appropriate to protect the Federal Government."

The Pentagon is also examining Boeing's ( BA ) proposed improvement plans to address accusations that it has let quality and safety standards slip.

The US Justice Department said it has convinced Boeing ( BA ) to plead guilty to federal criminal charges over the 2018 and 2019 crashes of two 737 MAX planes that killed 346 people.

Boeing ( BA ) and the Pentagon did not immediately reply to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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