Newsletter - May 2024

We share this newsletter to keep you informed about the progress of the pending action in the Netherlands and other developments of interest to you.

Background to AIRS’ action

AIRS started legal proceedings against Airbus in April 2022 before the District Court of The Hague. In your interest AIRS aims to obtain compensation for the misconduct of Airbus.

Airbus facilitated large-scale corruption in its business and did not adequately inform you and other investors about the wrongful conduct. In the interest of investors AIRS is actively taking steps to recover the losses suffered. While research is ongoing, our economic expert (Fideres) in a preliminary assessment calculated that investor losses are significant.

Court of Appeal proceedings initiated

In our previous Newsletter of October 2023, we informed you that the District Court of The Hague in its judgment of 20 September 2023 ruled that AIRS was inadmissible to bring the claims of the investment community at large.

AIRS does not agree with this decision and therefore has decided to appeal the decision. On 19 December 2023, AIRS served a writ of summons in appeal proceedings to Airbus.

Next steps

As a next step, Airbus will now have to appear in the proceedings at the Court of Appeal of The Hague by 24 September 2024. AIRS will file its grounds of appeal thereafter. In the appeal proceedings, AIRS will request the Court of Appeal to overturn the decision of the District Court dated 20 September 2023.

Request for trading data 

To strengthen AIRS’ claim before the Court of Appeal, the investors (or their representatives) who registered with AIRS are kindly requested to share their relevant trading data with AIRS, may you have not already done so. Please share your trading data via your profile once your registration is completed, by downloading the AIRS trading data template and uploading your trading data file on your profile thereafter, or send to: investors@airbusinvestorsrecoverystichting.com

This involves the trading information records of your Airbus shares held and/or traded in the relevant period (between 1 January 2008 and 31 July 2020). It is important for AIRS to have collected the trading data of all participants in its current proceedings against Airbus at the Court of Appeal.

As per 1 January 2024, AIRS welcomed Sandra Frommelt as the new chairperson of the Supervisory Board. Former chairperson Hester Bos has stepped down due to her new role as a trainee judge.
AIRS will keep investors informed on recent developments. In the interim we encourage investors to get in touch with us by email to share questions and suggestions. AIRS will also continue to keep investors updated through its website: https://www.airbusinvestorsrecoverystichting.com/. Also the reports of AIRS’s management board and supervisory board can be found on the website.

Please feel free to forward this newsletter to anyone you know that might be a harmed investor, so they can join our action as well.

For any questions, please feel free to email us: investors@airbusinvestorsrecoverystichting.com

The Board of AIRS
Paul Rex                                          (Chairperson)
Dominiek Vangaever                    (Treasurer)
Elsbeth van Rhijn                           (Company Secretary)