Leonardo Denies Being Investigated for Kuwait's Eurofighter

Leonardo Denies Being Investigated for Kuwait's Eurofighter
Leonardo Denies Being Investigated for Kuwait's Eurofighter

Italian defence organisation Leonardo stated on Tuesday that it is not the focus of a court inquiry into the Kuwait Eurofighter programme and that its deal to provide 28 fighters is going as planned.


Earlier Tuesday, Leonardo shares plummeted as much as 8%, extending losses from the previous session, with traders attributing the decrease to an inquiry into the Kuwait contract. 
On Monday, the national anti-corruption commission announced that Kuwait had submitted two senior army commanders to the public prosecutor for suspected misconduct in the agreement to acquire Eurofighter Typhoon planes. 
Leonardo stated that its relationship with Kuwait " has always been based on maximum transparency and full fairness" and that each transaction is subject to stringent scrutiny. 
Kuwait inked a contract with Leonardo in 2016 for 28 aircraft, the first two of which were delivered last month. 
On Tuesday, Leonardo stated that "others will follow as planned." 
Leonardo shares were down 4.3 per cent at 1217 GMT, making it the largest loss on a flat Milan blue-chip index. (.FTMIB)