Airbus settles corruption cases in US, EU, UK

Tuesday, 28. January 2020 07:34

Airbus SE announced on Tuesday that it settled investigation cases into alleged bribery and corruption that were conducted by authorities in France, the United Kingdom and the United States. In the US, the probe included looking into compliance with the US International Traffic in Arms Regulations.

The agreements were reached "in principle," according to the aircraft maker, with France's Parquet National Financier, UK's Serious Fraud Office and US regulators, but still need to be finally approved. However, Airbus noted it is unable to comment further on the deals, citing legal reasons.

Earlier, media reports said Airbus would settle the cases after four years and could pay fines of up to €3 billion in total, making it one of the largest settlements of its kind. Additionally, the plea agreement will help Airbus avoid criminal charges in return for a business overhaul and fine. Airbus has already made changes to its board and deal-making procedures.

Related Links: Airbus SE
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