Sabena and Sabena Technics Under Investigation for Fraud
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Sabena and Sabena Technics Under Investigation for Fraud
From ATWOnline:
Sabena, Technics investigated for possible fraud
Dateline: Tuesday December 04, 2001
Sabena and Sabena Technics are being investigated by Belgian judicial authorities for possible fraud.
The authorities are examining whether Sabena tried to postpone its bankruptcy to the benefit of one creditor and the detriment of others. They also are looking into whether
Sabena's management misappropriated assets or tried to secrete parts of accounts.
Special fraud investigators confiscated documents regarding, among other things, the
airline's contracts with Flightlease as of Nov. 7, when Sabena was declared bankrupt.
A parallel investigation at Sabena Technics dates back to 1999 and involves complaints from airlines about misappropriation of aircraft parts for which they had been invoiced. The inquiry has been accelerated by Sabena's bankruptcy, which has made airlines and employees more forthcoming with information.
Dateline: Tuesday December 04, 2001
Sabena and Sabena Technics are being investigated by Belgian judicial authorities for possible fraud.
The authorities are examining whether Sabena tried to postpone its bankruptcy to the benefit of one creditor and the detriment of others. They also are looking into whether
Sabena's management misappropriated assets or tried to secrete parts of accounts.
Special fraud investigators confiscated documents regarding, among other things, the
airline's contracts with Flightlease as of Nov. 7, when Sabena was declared bankrupt.
A parallel investigation at Sabena Technics dates back to 1999 and involves complaints from airlines about misappropriation of aircraft parts for which they had been invoiced. The inquiry has been accelerated by Sabena's bankruptcy, which has made airlines and employees more forthcoming with information.
Join Date: Nov 2001
Location: Brussels
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Hey all...
Since moe than two decades(at least those years I am awareof, see the rest?), Sabena has always been a model of continued non-profit and despite that it continued to exist. By doing so, it killed all private attempts to start airline in this country, except one, Virgin Express, who, thanks to an outstanding management has survived.
But sabena has never been anything else than a huge administrative company that never caught any idea of rentability, profit, E.A.
So looking at how the gouvernment is implied in this, it is indeed no surprise to discover that there could be dirty stories implied in all this.
Since moe than two decades(at least those years I am awareof, see the rest?), Sabena has always been a model of continued non-profit and despite that it continued to exist. By doing so, it killed all private attempts to start airline in this country, except one, Virgin Express, who, thanks to an outstanding management has survived.
But sabena has never been anything else than a huge administrative company that never caught any idea of rentability, profit, E.A.
So looking at how the gouvernment is implied in this, it is indeed no surprise to discover that there could be dirty stories implied in all this.
