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Bombardier Inc. T.BBD.A

Alternate Symbol(s):  BDRPF | T.BBD.PR.B | BDRXF | T.BBD.PR.C | T.BBD.PR.D | BOMBF | BDRAF | T.BBD.B | BDRBF

Bombardier Inc. is a Canada-based manufacturer of business aircraft with a global network of service centers. The Company is focused on designing, manufacturing and servicing business jets. The Company has a worldwide fleet of more than 5,000 aircraft in service with a variety of multinational corporations, charter and fractional ownership providers, governments and private individuals. It operates aerostructure, assembly and completion facilities in Canada, the United States and Mexico. Its robust customer support network services the Learjet, Challenger and Global families of aircraft, and includes facilities in strategic locations in the United States and Canada, as well as in the United Kingdom, Germany, France, Switzerland, Austria, the United Arab Emirates, Singapore, China and Australia. The Company's jets include Challenger 350, Challenger 3500, Challenger 650, Global 5500, Global 6500, Global 7500 and Global 8000.


TSX:BBD.A - Post by User

Post by ITSUP2MEon Jun 27, 2022 10:14am
179 Views
Post# 34784324

Whoopty Sh!t...Planes and palm oil!!

Whoopty Sh!t...Planes and palm oil!!

JAKARTA, June 27 (Reuters) - A former Garuda Indonesia chief convicted of graft is being investigated for alleged irregularities in procuring Bombardier and ATR planes, Indonesia's attorney general said on Monday, in deals the state auditor said led to $600 million in losses.

Emirsyah Satar, the flag-carrier's chief executive from 2005 to 2014, was sentenced to eight years in prison in 2020 for bribery and money laundering in buying planes and engines from Airbus and Rolls-Royce .

The U.S. Department of Justice and Britain's Serious Fraud Office are also investigating suspected bribery related to sales of jets by Canadian plane maker Bombardier to Garuda between 2011 and 2012.

"This was his responsibility in carrying out the work during his tenure," Attorney General Sanitiar Burhanuddin told a news conference.

Satar could not immediately be reached for comment.

Indonesian state auditor BPKP found Garuda paid an inflated price for 23 Bombardier CRJ and ATR 72 planes, causing high operational costs and an estimated 8.8 trillion rupiah ($594.39 million) in losses from 2011 to 2021, BPKP head Muhammad Yusuf Ateh said.

Three other former Garuda executives and a former director of local conglomerate PT Mugi Rekso Abadi (MRA) were also named suspects.

Garuda, Bombardier and ATR did not respond immediately to requests for comment and MRA could not immediately be reached.

Separately, the attorney general said state auditors and his office would jointly audit government firms and organisations in the palm oil sector, in a probe into allegations that a mafia operation had driven up domestic cooking oil prices for months.

The government had requested an audit that will cover palm oil companies' land size, partnerships with smallholder farmers, and tax reports, among other areas.

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