Airbus A380
30 January 2020.
Four years ago, Airbus self-reported to authorities that its use of third-party sales agents to sell jets had resulted in cases of bribery. The Airbus case originally came to light when inaccuracies were found in documents relating to the sale of military equipment which included parts made in the US. The company brought outside experts to clean up the system and create more transparency. The use of middlemen ended. More than 100 Airbus employees were let go. A U.K. subsidiary of Airbus has been at the centre of a seven-year bribery investigation. The subsidiary has since been closed down, possibly to avoid criminal charges. Guillaume Faury, the new chief executive said ethical compliance was company’s priority.
Airbus has agreed in principle on Tuesday to a settlement with authorities in France, the United Kingdom and the United States over allegations of bribery and corruption. It will pay penalties of 3.6 billion euros ($3.96 billion) in settlement of its long-standing allegations. It agreed to a deferred prosecution agreement in the UK, thus avoiding formal criminal charges. This agreement is subject to approval by courts and authorities in the three countries. The company is based in the French city of Toulouse. The settlement will also allow Airbus to put efforts fully on expanding its business at a time when its major rival Boeing is experiencing problems with its 737 MAX airliner, which has been grounded around the world since last March following two fatal crashes, and with no date yet set for when it might return to the air.
It has production and manufacturing facilities in France, Germany, Spain, United Kingdom, China and the United States.
Thetop10news reported.
