Airbus reached a preliminary agreement with fraud agencies in the U.S., U.K. and France over their probe into bribery and corruption, lifting a reputational and legal cloud that has hung over the company for years.
Airbus finally have reached an agreement on their big issue that was hanging over them for years even though the details have not been revealed.
In a statement, the European aircraft manufacturer said the deal was subject to approval by courts in UK, USA and France.
The allegations have centred on the use of middlemen in plane sales or”third-party consultants” who would secure aircraft deals who might have breached regulations. Airbus have since then restructured their sales operations.
Details have not been revealed, but reports suggest that Airbus – based in Toulouse in south-west France – could pay more than €3bn (£2.5bn) in fines.
The UK’s Serious Fraud Office (SFO), and later its French counterpart, opened investigations into Airbus after the firm reported itself in 2016.
The SFO opened its investigation in August of that year into allegations of “fraud, bribery and corruption” in the civil aviation business of Airbus.
The firm employs more than 130,000 people globally, including about 10,000 in the UK. It asked the regulator to look at documentation about its use of overseas agents.
