Airbus agrees record $4B settlement with France, Britain and US after nearly four-year investigation into the European planemaker's alleged corruption
The Airbus logo is pictured at Airbus headquarters in Blagnac near Toulouse, France, March 20, 2019.
The deal, effectively a corporate plea bargain, means Airbus has avoided criminal prosecution that would have risked it being barred from public contracts in the United States and European Union - a massive blow for a major defence and space supplier.Airbus, whose shares closed down 1 percent, has been investigated by French and British authorities for alleged corruption over jet sales dating back more than a decade. It has also faced US inquiries over suspected violations of US export controls.
Outlining detailed findings, the UK’s Serious Fraud Office said Airbus had hired the wife of a Sri Lankan Airlines executive as its intermediary and misled Britain’s UKEF export credit agency over her name and gender, while paying $2 million to her company. The airline could not be reached for comment.
AirAsia officials have strongly denied any wrongdoing in connection with the 2012 sponsorship agreement between the Caterham Formula 1 racing team and Airbus’ then parent EADS.The British investigation also identified bribery allegations involving Taiwan’s TransAsia Airways, Garuda Indonesia and Citilink Indonesia.
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