Progress of the Claim

AIRS action against Airbus

Timeline

This table shows the progress being made in the actions of AIRS against Airbus.

Invitation to open negotiations

Issue summons

Jurisdiction of the court

Election Exclusive Representative

Substantive phase proceedings

Settlement negotiations

Final decision

Distribution of the proceeds

Current status of proceedings AIRS
On 31 August 2022, the District Court The Hague decided on the case management of the proceedings. The court ordered that a hearing will be held in March 2023 to deal with the admissibility of AIRS bringing the claim and the appointment as the exclusive representative to consequently plead the merits of the matter.

In preparation of the hearing both Airbus and AIRS are allowed to file written submissions. Airbus has filed its submission on 23 November 2022. AIRS’ submission is due on 22 February 2023.

Issue of summons
On 1 April 2022, AIRS issued a writ of summons to Airbus.

Invitation to open negotiations
On 6 August 2021, AIRS sent a letter to Airbus, holding Airbus liable for the damages incurred by Airbus investors. The letter was also to interrupt the statute of limitations on behalf of all Airbus investors.

On 1 December 2021, Airbus replied, denying all charges and rejecting the invitation to negotiate to avoid legal proceedings.

Cooperation with Airbus Investors Recovery Limited – status of proceedings AIRL
AIRS is coordinating its strategy with Airbus Investors Recovery Limited ("AIRL") – see About AIRS for further background.

A hearing on the merits of the matter will take place in June 2023.

Airbus has filed its substantive statement of defence on 19 October 2022.

On 27 July 2022 the District Court rendered its decision in the motion filed by Airbus. The District Court fully sided with AIRL in deciding that Dutch law is applicable to the claims and no referral to the European Court of Justice is required.

On 6 August 2021, AIRL served a summons on Airbus on behalf of approximately 200 institutional investors that have assigned their claims to AIRL to establish that Airbus acted unlawfully vis-à-vis the affected investors. In response Airbus filed a motion with the aim to have the determination of the law applicable to the damages claims be referred to the European Court of Justice. AIRL opposed Airbus’s motion.