Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Leisure, gaming and gambling

Ryanair caught up in unauthorised aircraft parts scandal

Ryanair Holdings PLC (LSE:RYA) has reported the discovery of unauthorised aircraft components in two engines, making the Irish carrier the latest to be embroiled in a scandal involving the distribution of aircraft parts with falsified certification documents.

Ryanair boss Michael O’Leary said the parts likely originated from UK-based AOG Technics, although Ryanair had no direct business dealings with the little-known group.

The unauthorised parts were found and removed during routine maintenance checks in Texas and Brazil in recent months.

AOG Technics was accused in September of a "deliberate, dishonest and sophisticated scheme” to supply unauthorised engine parts that ended up in Boeing aircraft.

Lawyers of jet engine maker CFM International told the High Court how AOG potentially sold thousands of engine components using forged paperwork.

Barrister Matthew Reeve QC of Quadrant Chambers said there was "compelling documentary evidence that thousands of jet engine parts have been sold by (AOG) to airlines operating commercial aircraft fitted with the claimants' jet engines", according to Reuters reporters covering the case.

Virgin Australia (ASX:VAH), Southwest Airlines (NYSE:LUV) and United Airlines grounded some aircraft when the news came to light, though Ryanair remains “largely unaffected” overall by the scandal, O’Leary commented.

According to Companies House filings, AOG has one director, Jose Alejandro Zamora Yrala, who is also listed as a director at Sunwave Solutions Ltd and Kensho Group, the former of which dissolved earlier this year.

AOG has taken its website down, while Zamora Yrala does not have an active LinkedIn profile.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK