Hawker Beechcraft (HBC) will have to pay $14.2 million to close a two-year-old dispute with Airbus, which manufactures Hawker business jet airframe components for Wichita-based HBC. An arbitrator–the International Chamber of Commerce–imposed the award for damages relating to HBC’s purchase volume obligations for fuselages, wings, track kits and spare parts under an airframe purchase and support agreement. The European aircraft manufacturer requested arbitration in May 2009, alleging “that [HBC] breached its obligations under the airframe purchase and support agreement dated Aug. 19, 1998.” Airbus was seeking damages of more than $60 million from HBC.
Airbus Wins $14.2M in Dispute with Hawker
- May 31, 2011, 12:10 PM