Airbus SE (stock exchange symbol: AIR) is providing an update on two unrelated legacy legal cases.
The first legal legacy case concerns a commercial dispute, previously mentioned in the company’s Financial Statements, between subsidiary Matra Défense S.A.S. and the Republic of China (Taiwan). In 1998, Matra Défense S.A.S. was acquired by one of the French predecessor companies which later merged into EADS.
Airbus acknowledges notification of an arbitral award on 12 January 2018 concerning a breach of contract claim related to a purchase agreement signed in 1992 for the supply of missiles for which the products were delivered in the years shortly thereafter. The award amounts to € 104 million.
Matra Défense S.A.S. is reviewing the award before evaluating the next steps to take following the outcome of this arbitration.
The second unrelated legal legacy case concerns the ongoing investigation by the Munich public prosecution (Staatsanwaltschaft München I) in relation to the sale of Eurofighter aircraft to the Republic of Austria.
Airbus confirms that it is in discussion with the Munich public prosecution (Staatsanwaltschaft München I) about the potential termination of the investigation in the context of the sale of Eurofighter aircraft in 2003 by former EADS Deutschland GmbH (renamed Airbus Defence and Space GmbH) to the Republic of Austria. Once concluded, Airbus will disclose the result.
Airbus is a global leader in aeronautics, space and related services. In 2016 it generated revenues of € 67 billion and employed a workforce of around 134,000. Airbus offers the most comprehensive range of passenger airliners from 100 to more than 600 seats and business aviation products. Airbus is also a European leader providing tanker, combat, transport and mission aircraft, as well as one of the world’s leading space companies.
In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions worldwide.