Airbus to pay Era $42M, provide trade account credits in settlement

|About: Airbus SE (EADSF)|By:, SA News Editor

Era Group (NYSE:ERA+2% after-hours as it discloses a litigation settlement with Airbus (OTCPK:EADSF, OTCPK:EADSY), which agrees to pay $42M and provide certain trade account credits.

Era says the agreement settles all claims it made against Airbus related to Airbus’ marketing and sale and Era’s purchase of 11 H225 model helicopters.

Era was in litigation with Airbus concerning the grounding of its H225s in the aftermath of a 2016 crash of a CHC H225 near Turoy, Norway, that killed all 13 aboard and the reluctance of its energy sector customers to resume flying the H225 once international aviation regulators lifted the grounding.

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