Airbus Reaches Deal on Bribery Investigations

Airbus announced on its website this week an agreement in principle with French, British and American authorities investigating the giant aviation firm for bribery and corruption.

 

airbusThe Airbus A380, the world's largest airliner. (Photo: lenac)The allegations were brought to light in a 2016 investigation by the Guardian based on leaked bank and internal company documents. The journalists disclosed that two companies secretly controlled by Airbus had engaged in transactions that sent money via a tax haven into a mysterious company. Airbus did not explain the corporate arrangement or the money transfers. 

The newspaper report, however, prompted an internal company investigation, and Airbus has now reported the results of that to the UK Serious Fraud Office. A major finding was that  the firm had lied about using “third-party consultants” to secure financial backing from the British government. 

The Airbus announcement said the firm would provide € 3.6 billion ($ 4 billion) to pay potential penalties, once the agreement is approved by courts in the three countries.