Airbus’ final corruption settlement sits at $4 billion

Settlement is financial blow to planemaker but means it will avoid criminal charges, which, if proved, could have blocked it from winning some contracts
Airbus, Airbus corruption

Airbus has reached a final settlement with US, UK and French authorities over bribery and corruption allegations.  

The finalised deal amounts to $4 billion and means the European plane manufacturer can now avoid criminal charges, which, if proved, could have prevented it from winning contracts in Europe and the US.

Airbus’ settlement ends a four-year long investigation into accusations that the company used intermediaries between 2004 and 2016 to bribe public officials in numerous countries to buy its products.

The allegations caused the company to implement corporate changes and a management restructure.

French authorities ruled that Airbus will be subject to three years of “light compliance monitoring”.

Denis Ranque, chairman of the board of directors of Airbus, said in a statement: “The settlements we have reached today turn the page on unacceptable business practices from the past.

“The strengthening of our compliance programmes at Airbus is designed to ensure that such misconduct cannot happen again.”

Guillaume Faury, CEO of Airbus, said: “The agreements…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.”

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