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SriLankan Airlines has sued Airbus for $1 billion for alleged corruption during the procurement of A350-900s and consequent damages and loss of reputation.
The issue traces back to the Crown Court judgment in the UK that found Airbus guilty of bribery concerning aircraft agreements.
Sri Lanka’s flag carrier has also requested cancellation of the A350-900 Purchase Agreement for four A350-900 aircraft and return of the advance payment of $19 million. The A350-900 airplanes in question were ordered in 2013 for delivery beginning in 2020, with the purchase price around $160 million each. Due to the airline industry decline, those same aircraft currently have a market value of around $142 million, as an aviation consultant, Ishka Global, reports.
Even if the airline wins the lawsuit against Airbus, the gain will not come even close to covering the airline’s historic accumulated losses of more than $2.3 billion.