British Aerospace ( BAe ) was a British defense and aerospace company headquartered in Farnborough.
British Aerospace was established in 1977 by the merger of British Aircraft Corporation, Hawker Siddeley Aviation, Hawker Siddeley Dynamics and Scottish Aviation. The British government, which was at first the sole owner of the Group, in several steps until 1985, the complete privatization through. By the end of the 1990s, BAe sold several unprofitable subsidiaries and took over for several competitors, particularly in the U.S. market. At the same time, there were rumors of a merger with the German DaimlerChrysler Aerospace ( DASA), which, however, did not materialize. 1997 failed to merge with the aerospace company McDonnell Douglas, because it was taken over by Boeing.
1999 BAe merged with Marconi Electronic Systems to finally BAE Systems. This created the largest defense company in Europe and at the same time currently third in the world.
Payments to dictator Pinochet
In 2005 it was announced that the British aerospace and defense group British Aerospace ( BAe ) a total of 1.1 million pounds ( 1.5 million euros ) to have paid out between December 2004 and October 2005 to the Chilean dictator Augusto Pinochet. In return, Pinochet had taught arms deals. The money was fourteen transfers to Pinochet associated companies - Takser investment, Cornwall Overseas Corporation and Eastview Finance - paid. After it was revealed that Pinochet million U.S. dollars had concealed invested abroad, his reputation sank even in conservative circles. Processes for tax evasion and investigation of suspected corruption but were discontinued after his death.