Airbus resolves UK, France and US authorities’ allegations

Aerospace company Airbus has agreed to resolve allegations levied by the French Parquet National Financier (PNF), the UK Serious Fraud Office (SFO), and the US Department of Justice (DoJ).

Under this agreement, Airbus has agreed to pay penalties of €2.083bn to PNF, €984m to the SFO, €526m to the DoJ and €9m to the US Department of State (DoS). Approximately €4.50m from the DoS settlement could be used for approved remedial compliance measures.

The agreement has ended the authorities’ investigation on the company over allegations of bribery and corruption.

PNF, DoJ and SFO have agreed to suspend prosecution of Airbus for a duration of three years and discontinue only if the company continues to abide by the agreement’s terms.

Additionally, the consent agreement with the DoS will see settlement related to investigations over inaccurate and misleading filings made pursuant to the US International Traffic in Arms Regulations (ITAR).

Airbus chief executive officer Guillaume Faury said: “The agreements approved today with the French, UK, and US authorities represent a very important milestone for us, allowing Airbus to move forward and further grow in a sustainable and responsible way.

“The lessons learned enable Airbus to position itself as the trusted and reliable partner we want to be.”

The aerospace company has not disclosed any other information related to the agreed statements due to legal reason.

Meanwhile, Airbus has improved its compliance system under the supervision of an Independent Compliance Review Panel to avoid the repetition of this conduct.

Airbus has also agreed to cooperate with the authorities in the future.