Airbus coughs up R3,5-billion to Armscor
After years of contractual disputes, Airbus has refunded Armscor R3,5-billion on the aborted deal to buy eight A400M transporter planes, according to a Times Live report.
Times Live reports that the refund is for pre-delivery payments made by South Africa before the deal to buy the planes was cancelled in 2009. Despite the contract cancellation, Denel (a division of Armscor) remains responsible for the manufacture and supply of several components for the aircraft.
For more:
- Times Live: Airbus refunds South Africa on A400 deal
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