By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Travel Radar - Aviation NewsTravel Radar - Aviation News
  • Breaking News
  • Aviation
    • Aircraft
    • Airlines
    • Airshow & Events
    • Careers
    • Manufacturing
  • Travel
    • Airports
    • Points & Loyalty
    • Technology
    • Trip Reviews
  • Newsletters
Reading: Airbus Corruption Investigation Settlement
Share
Sign In
Notification Show More
Font ResizerAa
Font ResizerAa
Travel Radar - Aviation NewsTravel Radar - Aviation News
  • Breaking News
  • Aviation
    • Aircraft
    • Airlines
    • Airshow & Events
    • Careers
    • Manufacturing
  • Travel
    • Airports
    • Points & Loyalty
    • Technology
    • Trip Reviews
  • Newsletters
Have an existing account? Sign In
Follow US
Copyright © Travel Radar Media Ltd. 2024 | All Rights Reserved
Travel Radar - Aviation News > News > Airbus Corruption Investigation Settlement

Airbus Corruption Investigation Settlement

Travel Radar
Last updated: 28 January 2020 18:33
By Travel Radar Staff 3 Min Read
Share
SHARE

Airbus agrees settlement with French, British and US authorities over allegations.

Airbus has agreed a settlement with the authorities over investigations involving bribery and corruption. Firstly these allegations could cost the European aerospace group billions of pounds in fines.

Airbus Factory Lagardère, Toulouse, France

Investigations are looking into alleged claims of fraud, bribery and corruption in the groups civil aviation arm pertaining irregularities around the use of middlemen or Third party consultants.

“Airbus confirms that it has reached agreement in principle with the French Parquet National Financier, the UK Serious Fraud Office (SFO) & the US authorities” a spokesperson for the aerospace group stated”

Furthermore stated “These agreements are made in the context of investigations into allegations of bribery and corruption as well as compliance with the US international traffic in arms regulations (Itar). They remain subject to approval by French and UK courts and US court and regulator”

Airbus’ Latest Aircraft A350 – Photography of Airbus

Experts have predicted fines could be up to and in excess of €3bn approximately £2.5bn. In comparison to their annual profit of €4.3bn in FY 2018

Investigations began by the SFO in July 2016 under Chief Executive Guillaume Faury predecessor, Tom Enders. This investigation began as the aerospace group began to notice irregularities and reported itself.

The investigation is looking at allegations of corruption of over ten years at Airbus.

Airbus CEO Guillaume Faury – Photography of Airbus

As of 2017 Airbus had approximately 130,000 employees and about 10,000 of those based in the UK. In addition to recently becoming the largest aircraft manufacturer earlier this month.

Firstly before investigations began Airbus had its Export Credit applications frozen. Export credits are used by governments to support exports such as Airbus, this is often achieved by backing financial loan applications.                                                                                                         In Conclusion these settlement will prove expensive for Airbus. However this is a huge step for CEO Guillaume Faury the rebuild the companies reputation.

 

You Might Also Like

UK government evaluating the Boeing-Spirit Deal

Etihad Airways Prepares to Welcome 7 Million Travellers This Summer

Air Canada Launches New Route to Edinburgh

Oil Price Dip & Rising Demand Fuel Optimism for Airline Stocks

How Canadian Travelers Can Find Fair and Secure Online Casinos That Work Anywhere

Share This Article
Facebook Twitter Email Copy Link
What’s your thoughts?
Love0
Sad0
Happy0
Angry0
Travel Radar
By Travel Radar Staff
Follow:
Articles from guest contributors wishing to remain anonymous are credited to this account. Want to contribute to Travel Radar either in-name, or anonymously? Get in touch: [email protected]
Previous Article Bek Air’s IATA Code Withdrawn
Next Article British Airways Suspends Flights to Mainland China
4 Comments
Subscribe
Login
Notify of
guest
guest
4 Comments
Oldest
Newest Upvoted
Inline Feedbacks
View all comments

Stay Connected

FacebookLike
TwitterFollow
InstagramFollow
YoutubeSubscribe

Trending News

Emirates sponsorship behind Carlos Alcaraz (ESP) who serves against Frances Tiafoe (USA) in the third round of the Gentlemen's Singles on Centre Court at The Championships 2024
Emirates Sponsors The Championships, Wimbledon
Airlines Airshow & Events Travel
© Toyota
Top 10 Most Reliable Used Cars to Buy in Dubai
Travel
© Xclusive Yachts
The Best Dubai Luxury Experiences in 2025
Travel
Qatar Airways aircraft.
Skytrax’s World’s Best Airlines 2025 Revealed
Airlines Aviation Travel
Red Kiyomizu-Dera Temple in Kyoto, Japan
Top Educational Travel Destinations: Learn and Explore the World
Aviation Travel
//

Travel Radar is the leading digital hub for all things aviation and air-travel. Discover our latest aviation news, aviation data, insight and analysis.

Discover

  • About Us
  • Contact Us
  • Careers
  • Press & PR
  • Privacy & Legal

Our Content

  • News
  • Data
  • Images
  • Jobs
  • Subscribe

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Click here to Signup!

© Travel Radar Media Ltd. 2015-2025 | ISSN #2635-0696 | Trademark #UK00003579704
wpDiscuz
adbanner
AdBlock Detected
Ads help us bring you high-quality, independent journalism for free. Support us by whitelisting us from your ad blocker.
Okay, I'll Whitelist
Welcome to the TR Community!

Sign in to your account

Register Lost your password?