Airbus reaches settlement on bribery and corruption allegations

Airbus reaches settlement on bribery and corruption allegations
Published: 28 January 2020 - 5 a.m.

Airbus has confirmed that it has reached an agreement in principle with UK, French and US regulators over an investigation into bribery and corruption allegations which has shadowed the aerospace giant for years.

A finalised deal is expected soon and analysts reckon that Airbus could be faced with fines of more than $3 billion, once negotiations between regulators have concluded.

The corruption probe into Airbus has lasted for over four years and has seen a management restructure, even though departing senior executives were not involved in the cases, and new company procedures on ethics and compliance.

UK regulators began investigating in 2016 following revelations that there were discrepancies in disclosures about third-party consultants used on certain aircraft deals.

French and US regulators opened their respective probes in the following two years.

In a statement, Airbus said: “These…agreements remain subject to approval by French and UK courts and US court and regulator.

“For legal reasons, Airbus cannot make any comments on the details of its discussions with the investigating authorities.”

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