News Columns & Blogs

Hawker Beechcraft to pay $14.2 million in damages to Airbus

Hawker Beechcraft must pay $14.2 million in damages plus interest and arbitrator costs to Airbus UK Ltd., a tribunal of the International Chamber of Commerce has ruled.

Hawker Beechcraft lost the case with Airbus over purchase volume obligations for fuselages, wings, track kits and spare parts under their “Airframe Purchase and Support Agreement,” the company said in a filing with the Securities and Exchange Commission.

Airbus had sought damages of more than $57 million to cover the loss of revenue from reducing the number of ship sets for the Hawker line of business jets.