AgustaWestland Helicopter Deal In Jeopardy After Bribery Arrest | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne/NBAA2014 10.24.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.24.14 **
** Airborne/NBAA2014 10.22.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.22.14 **
** Airborne/NBAA2014 10.21.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.21.14 **
** Airborne/NBAA2014 10.20.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.20.14 **

Tue, Feb 19, 2013

AgustaWestland Helicopter Deal In Jeopardy After Bribery Arrest

Finmeccanica CEO Arrested, Resigns Over The Scandal

The Indian Defense Ministry has given AgustaWestland a short 7-day deadline for an explanation as to why a helicopter contract should not be cancelled. The company is embroiled in a bribery scandal that resulted in the arrest of Finmeccanica CEO Giuseppe Orsi February 12th.

The company is accused of corruption, tax fraud, and making illegal payments in connection with the sale of 12 AW101 helicopters to India. Three have already been delivered, according to Bloomberg News.

Finmeccanica is Italy's largest defence contractor. On February 14, they moved Alessandro Pansa into the CEO position. The company acknowledged that the New Delhi government has asked for an explanation of the deal, but denies that it is a cancellation of the contract. In a statement, AgustaWestland said it is "confident that the full compliance with the relevant laws as well as the good conduct of its past and present senior executives and managers will be demonstrated as soon as practicable.”

Analysts in India say that if the helicopter deal collapses, it could have a ripple effect on other contracts between Finmeccanica and the New Delhi government. One indicated that "blacklisting" Finmeccanica "can't be ruled out."

In a separate release, the Finmeccanica board said the company is "fully operational" under the leadership of Pansa. They deny any wrongdoing in securing the contract over competing helicopters from the U.S. and Russia.

(Indian Air Force AW101 pictured in file image)

FMI: www.finmeccanica.com

Advertisement

More News

Airborne at NBAA-10.22.14: Legacy 500, Universal InSight, BendixKing AeroWave

Also: GE Honda, Sagem's Active SideStick, Syberjet Update, Techno Aerospace Knows How to Party The FAA handed over certification papers for Embraer's Legacy 500 executive jet durin>[...]

ANN's Daily Aero-Linx (10.24.14)

Homebuilt Homepage: Clubs And Newsletters This page lists Homebuilt related Clubs and Newsletters.>[...]

ANN's Daily Aero-Term (10.24.14): Phase Separation – Aviation Fuel

Phase separation is when a combined liquid separates into two different liquids and may occur when autogas is used for aviation fuel.>[...]

Aero-News: Quote Of The Day (10.24.14)

“I’m excited and humbled by the trust that the ALPA Board of Directors has placed in me with this election.” Source: ALPA President-Elect Tim Canoll.>[...]

ANN FAQ: Q&A 101

A Few Questions AND Answers To Help You Get MORE Out of ANN!>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC