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Airbus deal: Settlement was the biggest ever foreign bribery agreement

Airbus

Airbus confirmed that it had reached an agreement with British and US authorities to pay them fines of €984 million and €535 million respectively.

The US Department of Justice (DOJ) said the settlement was the biggest ever foreign bribery agreement.

The DOJ said Airbus’ settlement with it related to a “scheme to offer and pay bribes to foreign officials, including Chinese officials, in order to obtain and retain business, including contracts to sell aircraft.”

EXCLUSIVE: Airbus bribery deal with Ghana Government exposed

Airbus had had a “scheme to use third-party business partners to bribe government officials, as well as non-governmental airline executives, around the world,” it said.

According to the DOJ, admissions and court documents revealed that the multinational’s bribery scheme had begun no later than 2008 and continued until at least 2015.

“Airbus has taken significant steps to reform itself and to ensure that this conduct will not reoccur,” the company said in a statement.

Airbus deal with France 

A French court approved a deal of just over €2 billion to settle corruption allegations concerning Airbus aircraft and satellite sales between 2004 and 2016.

READ: First Female Aircraft Marshal Awarded “Most Inspiring Woman in Aviation”

France’s financial prosecutor said Airbus also agreed to three years “light compliance monitoring” by the country’s corruption watchdog.

“In reaching this agreement today, we are helping Airbus to turn the page definitively” on corrupt past practices, French prosecutor Jean-Francois Bohnert said.

READ AIRBUS BRIBERY REPORT HERE

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