Airbus agrees to pay €3.6bn over bribery

Will Green is news editor of Supply Management
29 January 2020

Airbus has reached an agreement with the Serious Fraud Office (SFO) that will see it pay out €3.6bn to settle allegations of bribery and corruption.

The firm said the deferred prosecution agreement was the subject of a preliminary court ruling and would require final judicial approval. A hearing will take place in the High Court on 31 January.

The SFO has been investigating allegations of fraud, bribery and corruption at the company since 2016. “These allegations relate to irregularities concerning third party consultants,” the SFO said.

Investigations have also been taking place in France and the US.

“The investigations by the above authorities relate to allegations of bribery and corruption and to inaccuracies in filings made with the US authorities,” said Airbus.

“If approved by the courts, the agreements will result in Airbus taking a provision of € 3.6 billion for the payment of potential penalties to the French, UK, and US authorities.”

Airbus has a workforce of around 134,000. In 2018 it had revenues of €64bn.

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