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Sri Lankan to sue Airbus for US$ Ib
March 27, 2021
Sri Lanka’s flag-carrying airline, SriLankan Airlines, is suing European plane maker Airbus for the sum of $1 billion. The amount is being sought in respect of damages, loss of reputation and the reimbursement of costs and interests. The issue stems back to the Crown Court judgment in the UK, which found Airbus guilty of bribery in relation to aircraft deals.
As well as the billion-dollar compensation sought, SriLankan Airlines is seeking to cancel the outstanding delivery of four A350-900s and to claw back some $19 million in pre-delivery payments for these planes.
The outcome of the UK investigation led to the approval of a Deferred Prosecution Agreement (DPA) between the Serious Fraud Office of the UK and Airbus. Announced in January 2020, this included a settlement of some $4.3 billion, with proceeds to be split between France, the UK and the US.
Sri Lanka was just one of several countries alleged to have been impacted by the bribery scandal. The offenses spanned countries including Taiwan, Indonesia, Malaysia, Nepal, Russia, China and Colombia. Impacted airlines included the AirAsia Group, TransAsia Airways, Garuda Indonesia and the aviation arm of the Ghanaian government.(Simple flying)
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