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Post by fanairbus on Feb 3, 2020 10:08:50 GMT 1
Airbus put potential damage from bribery conviction at €200bn By David Kaminski-Morrow2 February 2020 www.flightglobal.com/airframers/airbus-put-potential-damage-from-bribery-conviction-at-200bn/136488.articleAirbus analysis estimated that the damage impact from a criminal conviction arising from bribery charges levelled against the company could have reached €200 billion across its commercial aircraft, defence and helicopter divisions.
The airframer has agreed to pay a €3.6 billion ($4 billion) fine to settle the case under a three-year deferred prosecution arrangement, a deal intended to avoid a costly fraud trial and potential collateral damage affecting the workforce.
Whilst it seems a very good deal...strangely I almost feel let down by them and would have liked to have believed that Airbus had reached their current position from humble beginnings through industrial, managerial and legal stealth only Can anyone else empathise?
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philidor
in service - 6 years
Posts: 8,950
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Post by philidor on Feb 4, 2020 11:30:03 GMT 1
strangely I almost feel let down by them and would have liked to have believed that Airbus had reached their current position from humble beginnings through industrial, managerial and legal stealth only Can anyone else empathise? Most (though not all) shady deals were military ones. Airbus was far less exposed before it took over Eurofighter, helicopter and other military lines of business. I never thought such mergers were a good idea ...
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s543
in service - 2 years
Posts: 3,957
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Post by s543 on Feb 4, 2020 20:48:51 GMT 1
I do believe that all those military deals are "head 22" situation
You can not sell to the government any military equipment without corruption - i.e. if you are dealing with military equipment corruption is inevitable.
We have seen similar situation with Boeing - and I am sure we have seen only the "top of the iceberg".
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Post by kevin5345179 on Feb 5, 2020 9:11:55 GMT 1
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Post by fanairbus on Feb 8, 2020 8:17:07 GMT 1
Bribery scandal recovery a bitter pill for Airbus By Flight International7 February 2020 www.flightglobal.com/opinion/bribery-scandal-recovery-a-bitter-pill-for-airbus/136613.articleAway from the comically fishy email exchanges and the intriguing guessing game as to the identities of individuals behind code names, the real surprise emerging from the Airbus bribery affair is not the extent of suspicious activity, or even that anyone thought they would get away with it, but rather the confidence from senior management that it can prevent a recurrence. After Airbus humbly consented to pay a colossal fine to end the investigation and avoid prosecution, chairman Denis Ranque declared that the agreement would “turn the page on unacceptable business practices from the past”.
While the ambition is commendable, and Airbus’s co-operative attitude and recent efforts to overhaul its compliance processes earned the airframer a degree of leniency, the reality is that “the past” is not yet comfortably distant and the ethical shakedown of a company is far from a simple exercise, particularly one seeking billion-dollar sales in parts of the world considered ‘incentive-friendly’.
We could have a competition perhaps; drawing lines on the world map where a380boarders could draw their perceived lines of those ' parts of the world considered ‘incentive-friendly’'! It's no excuse for the Airbus management's behaviour but such areas probably exist in all continents. Discuss?
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Post by bmw801 on Feb 13, 2020 6:50:51 GMT 1
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kronus
in service - 1 year
Posts: 3,208
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Post by kronus on Feb 13, 2020 6:51:12 GMT 1
Today airbus annual press conference on 2019 results from 9.30 to 11.00 CET:
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sciing
in service - 1 year
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Post by sciing on Feb 13, 2020 7:21:55 GMT 1
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Post by bmw801 on Feb 13, 2020 7:31:36 GMT 1
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philidor
in service - 6 years
Posts: 8,950
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Post by philidor on Feb 13, 2020 11:46:31 GMT 1
OK, I'll read Airbus' financial reports in detail later. At first look, the group had a good result before one-offs (EBIT adjusted = 6,9 billions), and was drawn to losses (EBIT reported 1,4 billion, net loss = - 1,4 billion) by huge one-offs on compliance issues (3,6 billions), A 400M (1,2 billion) and other questions (0,8 billion).
Research and development expenses increased 4% to 3,4 billions.
The A400M continues to be a drag (hardly a one-off !). Were these mergers that created a military branch a good idea ?
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