Britain’s Serious Fraud Office is leading a criminal investigation against Airbus for allegations of fraud, bribery and corruption.
“Airbus Group has been informed by the SFO that it has opened a criminal investigation into allegations of fraud, bribery and corruption in the civil aviation business of Airbus Group relating to irregularities concerning third party consultants,” the company said. “Airbus Group continues to cooperate with the SFO.”
FT reported, ‘The UK’s export credit agency and its counterparts in France and Germany all suspended financing after the disclosure. Airbus said at the end of July that it had agreed a process with the UK export credit agency to resume financing by the end of the year.’
According to Industry Week, ‘The company was informed on August 5 that the authority had launched an investigation, an Airbus spokesman said. “We ourselves detected this issue and self-disclosed it to the authorities.
“This is as an effort of our enhanced anti-corruption (policy). Management has taken robust action and is determined to resolve this issue in cooperation with the authorities,” spokesman Jeremy Greaves said.
Written by DFGR Research Team – www.dfgr-ltd.com