Airbus takes hit over German export controls

30 April 2019

Airbus has recorded a EUR190 million (USD212.1 million) charge relating to the company’s delivery of equipment to Saudi Arabia for a long-running border security contract, it was revealed during the company’s first-quarter results released on 30 April.

The charge came as a result of increased export controls by Germany, which has involved the banning of transfers of military equipment to Saudi Arabia from Germany. The ban came as a result of the war in Yemen, as well as criticisms over human rights violations and the murder of journalist Jamal Kashoggi in Istanbul in October 2018. In March the ban was extended until at least 30 September.

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