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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Airbus SE    AIR   NL0000235190

AIRBUS SE (AIR)
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Airbus ordered to pay 104 million euros to settle Taiwan missile dispute

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01/13/2018 | 06:31pm CEST
The logo of Airbus is pictured at the company's headquarters in Colomiers near Toulouse

PARIS (Reuters) - Airbus (>> Airbus SE) said on Saturday it had been ordered to pay 104 million euros in fines over a missile sale to Taiwan in 1992, the latest French arms company to reach a settlement over disputes arising from one of France's biggest ever arms sales.

PARIS (Reuters) - Airbus (>> Airbus SE) said on Saturday it had been ordered to pay 104 million euros in fines over a missile sale to Taiwan in 1992, the latest French arms company to reach a settlement over disputes arising from one of France's biggest ever arms sales.

The scandal around French arms sales to the island in the early 1990s was one of a series of cases that underpinned accusations of widespread corruption during the final years of late French president Francois Mitterrand.

Airbus said in a statement that its subsidiary behind the missile contract, Matra Defense, was "reviewing the award before evaluating the next steps to take".

The arbitration fine comes three months after Dassault Aviation (>> Dassault Aviation), radar supplier Thales (>> Thales) and engine maker Safran (>> Safran) said they had been fined a combined 227 million euros ($276.80 million) in Taiwan to settle the 25-year-old dispute over the wrongful use of commissions in the sale of 60 Mirage fighters to the island.

"This was a commercial dispute and not a corruption allegation," said an Airbus spokesman.

In a separate case, Airbus said it was in talks with Munich prosecutors that could lead to the termination of their investigation into alleged corruption in the sale of Eurofighter combat jets to Austria in 2003.

That investigation is one of several corruption cases still facing Europe's largest aerospace company.

Airbus did not mention the status of a parallel Austrian investigation into the same arms deal.

The company and individuals including CEO Tom Enders are being investigated in Vienna over industrial deals that were built into the Eurofighter sale and have denied any wrongdoing.

Separately, Airbus faces UK and French investigations into the use of middlemen in commercial airliner sales.

($1 = 0.8201 euros)

(Reporting by Tim Hepher; writing by Richard Lough; editing by Clelia Oziel)

By Tim Hepher

Stocks treated in this article : Airbus SE, Safran, Thales, Dassault Aviation
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 0.56% 107.12 Real-time Quote.28.27%
DASSAULT AVIATION -0.06% 1604 Real-time Quote.23.66%
SAFRAN 0.79% 121.9 Real-time Quote.40.85%
THALES 0.20% 122.2 Real-time Quote.35.74%
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Financials (€)
Sales 2018 63 861 M
EBIT 2018 5 084 M
Net income 2018 3 392 M
Finance 2018 12 990 M
Yield 2018 1,65%
P/E ratio 2018 24,51
P/E ratio 2019 19,38
EV / Sales 2018 1,09x
EV / Sales 2019 0,97x
Capitalization 82 644 M
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 117 €
Spread / Average Target 9,9%
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Managers
NameTitle
Thomas Enders Chief Executive Officer & Executive Director
Denis Ranque Non-Executive Chairman
Harald Wilhelm Chief Financial Officer
Luc Hennekens Chief Information Officer
Grazia Vittadini Chief Technology Officer
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