Airbus reaches settlement on corruption allegations
Aerospace giant Airbus said it had agreed a settlement with UK, US and French authorities over investigations into allegations of bribery and corruption.
Airbus Group Se
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16:30 25/04/24
“Airbus confirms that it has reached agreement in principle with the French Parquet National Financier, the UK Serious Fraud Office and the US authorities,” the company said on Tuesday in a brief statement.
“These agreements are made in the context of investigations into allegations of bribery and corruption as well as compliance with the US International Traffic in Arms Regulations (ITAR). They remain subject to approval by French and UK courts and US court and regulator,” it added.
Toulouse-based Airbus said it could not comment on precise details regarding its talks with the investigating authorities.
Reports suggested Airbus could be forced to pay out up to £2.5bn in fines.
The UK’s Serious Fraud Office (SFO) started a probe in 2016 after Airbus revealed it had discovered inconsistencies in disclosures made about external consultants. French and US authorities launched investigations in 2017 and 2018, respectively.
The company allegedly failed to notify authorities about the use of the consultants in aircraft deals it was asking the UK government to cover with financing guarantees.
Airbus was reportedly set to agree a deal on a deferred prosecution agreement with the SFO, which, in exchange for an admission of wrongdoing, they pay a fine and avoid a criminal prosecution.