Bombardier and Honeywell, two major aerospace companies, have reached a settlement in a long-standing lawsuit over engine prices. The dispute, which has been ongoing since 2011, has finally come to an end with an undisclosed agreement between the two parties.
The lawsuit was initially filed by Bombardier, accusing Honeywell of charging excessive prices for engines used in their Global 5000 and Global 6000 business jets. Bombardier claimed that Honeywell’s pricing practices violated their contract and resulted in significant financial losses for the company.
Honeywell, on the other hand, denied any wrongdoing and argued that their pricing was fair and in line with industry standards. They also counter-sued Bombardier, accusing them of breaching their contract by not purchasing the agreed-upon number of engines.
After years of legal battles and negotiations, the two companies have finally come to a resolution. In a joint statement, Bombardier and Honeywell announced that they have settled the lawsuit and are looking forward to continuing their business relationship.
The terms of the settlement have not been disclosed, but both companies have expressed their satisfaction with the outcome. Bombardier’s spokesperson, Mark Masluch, stated that the settlement was a positive step for the company and its shareholders. Similarly, Honeywell’s spokesperson, Scott Sayres, said that they were pleased to have reached an agreement that benefits both parties.
This settlement marks the end of a lengthy and complex legal battle between two major players in the aerospace industry. It also highlights the importance of fair and transparent pricing practices in the business world.
The details of the settlement may remain confidential, but the resolution of this dispute is a positive development for both Bombardier and Honeywell. It is a testament to the power of negotiation and compromise in resolving conflicts and maintaining healthy business relationships.
