Norway Settles NH90 Helicopter Dispute with European Aerospace Leaders
Norway and European aerospace groups, including NHIndustries, have settled a 2.86 billion euro damages claim after Norway cancelled its NH90 helicopter order. The settlement avoids a public trial, with Norway receiving 305 million euros. The deal includes returning delivered helicopters and avoids spotlighting European defense programs.
Norway and three prominent European aerospace firms have finalized a settlement over a substantial 2.86 billion euro damages claim resulting from the cancelled NH90 helicopter order. The Norwegian government and NHIndustries, alongside stakeholders Airbus, Leonardo, and GKN Fokker, announced the settlement.
This agreement averts a rare public legal battle over defense procurement and dismisses a countersuit by manufacturers seeking hundreds of millions in compensation. As per the statement, Norway will receive a payment of 305 million euros from NHIndustries, supplementing previous payments totaling around 70 million euros.
Delays, exceeding a decade, and missing parts plagued the 14 helicopters ordered in 2001, leading Norway to cancel the order in 2022. The settlement prevents the unveiling of European defense program issues during a trial set for November 10 in Oslo, against the backdrop of heightened West-Russia tensions and Norway's strategic regional defense responsibilities.
ALSO READ
-
Norway's Steady Interest Rate: An Economic Perspective
-
Norway and Europe Settle Helicopter Dispute
-
Norway Settles Multibillion-Euro Claim Against NHIndustries
-
Norway Nears Settlement with European Aerospace Giants Over NH90 Helicopters
-
Strengthening Health Systems: Celebrating 20 Years of Norway-India Partnership