Air Algérie Company loses 2 million dollars in shady spare parts deal

Reliable sources told Echorouk newspaper that experts, designated by an Algiers penal court, have estimated at 2 million dollars the losses incurred by the Air Algérie company in a shady spare parts deal concluded, on the company's behalf, by four of its technical managers who are now in the dock.The latter are now facing a lawsuit from the airline company over their direct involvement in the damaging spare parts’affair.

The 4 defendants are accused of embezzlement, financial malpractice and forgery and the use of forgeries.

The affair was brought to light about a year ago when the representative of the contracting US Company sent a copy of the contract to the Air Algérie management who discovered striking irregularities and discrepancies.

Most of the financial bank credits allotted by the company for the acquisition of the ordered spare parts have been embezzled by the defendants who did not waver to forge the relevant invoices in a bid to cover up their subterfuge.

One of the 4 defendants is said to be still at large but will be tried in absentia.