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Saudi Airbus contract disrupted by German ban
Airbus has booked a €190m ($213m) impairment charge in its accounts for the first quarter of 2019 as a result of Germany’s suspension of arms exports to Saudi Arabia. The European defence and aviation group did not specify what contract had been affected but said in its Q1 19 financial statement issued on 30 April that it was a result of “the prolonged suspension of defence export licences to Saudi Arabia by the German government, and the consequential inability of the company to execute a customer contract”.
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