Airbus fined millions for 1992 arms sale to Taiwan

Turkish passenger plane goes off runway metres away from sea

Turkish passenger plane goes off runway metres away from sea

Airbus said on Saturday it had been ordered to pay €104 million (US$126 million) in fines over a missile sale to Taiwan in 1992, the latest French company to reach a settlement over disputes arising from one of the country's biggest ever arms sales.

In 1992 Matra Défense, now an Airbus subsidiary, committed a breach of contract by selling arms to Taiwan.

Matra Defence SAS joined the Airbus group in 1998.

An Airbus spokesman declined to provide details on the case when contacted by AFP.

Meanwhile, French newspaper Quest France revealed that Airbus would have to pay 104 million euros in compensation to Taiwan following global arbitration on the commercial dispute.

Matra Defence S.A.S. was accused of jacking up the prices and remitting commissions to a middleman who was not authorized by Taiwan at that time, according to RFI, a French public radio service.

When asked about the case by CNA, MND spokesman Chen Chung-ji (陳中吉) said the ministry has no comment on the matter and will not give further information about the case.

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

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