US aircraft maker Boeing has set up a US$100m (€88.6m) fund to help the families of those who died in recent crashes involving its 737 MAX planes.

Lion Air flight 610 crashed shortly after take-off from Jakarta, Indonesia last October killing all 189 people on board.

While in March, 157 people died - including Irish engineer Micheál Ryan - when an Ethiopian Airlines plane came down shortly after take-off from Addis Ababa.

The entire 737 Max fleet was grounded globally following the two crashes.

World Food Programme engineer Micheál Ryan died in the Ethiopian Airlines crash | Image: WFP via Twitter

The company says the fund is to "address family and community needs of those affected by the tragic accidents of Lion Air flight 610 and Ethiopian Airlines flight 302".

The funds will support education, hardship and living expenses for affected families, community programs, and economic development in impacted communities.

Boeing says it will also partner with local governments and non-profit organisations to address these needs.

It says that this "initial investment" will be made over several years.

Dozens of grounded Boeing 737 MAX airplanes crowd a parking area adjacent to Boeing Field in Seattle | Image: Elaine Thompson/AP/Press Association Images

Boeing chairman and CEO Dennis Muilenburg again apologised to all those affected.

"We at Boeing are sorry for the tragic loss of lives in both of these accidents and these lives lost will continue to weigh heavily on our hearts and on our minds for years to come.

"The families and loved ones of those on board have our deepest sympathies, and we hope this initial outreach can help bring them comfort".

"We know every person who steps aboard one of our airplanes places their trust in us. We are focused on re-earning that trust and confidence from our customers and the flying public in the months ahead."

It comes after another setback for the company in its attempts to get the planes off the ground.

US regulators last week warned they found a new problem with the jets.

But the Federal Aviation Administration (FAA) did not reveal details of what the "potential risk" was.

Main image: Photo taken on March 11th, 2019 shows the crash site of an Ethiopian Airlines plane near Bishoftu town in Ethiopia | Image: Michael Tewelde/Xinhua News Agency/PA Images