Dec. 20, 2018, (c) Leeham News: The French newspaper Le Monde reported that Airbus may face billions of dollars in fines over the US probe into bribes and corruption.
The US probe is an outgrowth of the 2016 investigation begun in the UK and continental Europe over bribes and the use of third parties in sales of commercial and military aircraft. Airbus self-reported violations to authorities, triggering the investigations.
The US investigation began at the end of 2017.
According to the news article, Airbus could be banned for five year from civil and military contracts in the US.
In response, Airbus issued the following statement:
“It is a known fact that Airbus is the subject of a publicly-disclosed investigation and therefore is unable to comment in any form on the current proceedings.
Airbus wishes to remind that in 2016 the company disclosed a matter of concern to the authorities. Since then, Airbus has been cooperating closely with the UK Serious Fraud Office (SFO) and the French Parquet National Financier (PNF) in their investigations.
Furthermore, in previous financial disclosures Airbus has reported that as part of its engagement with the US authorities, the latter have requested information relating to conduct forming part of the SFO/PNF investigation that could fall within US jurisdiction. Here, too, Airbus is cooperating with the US authorities in close coordination with the SFO and PNF.
The United States is of major importance to Airbus in terms of production facilities, employees and clients. We are committed to the country, to our customers and our employees there as we are in any other region where Airbus has a major industrial presence.
Compliance is at the heart of everything Airbus does today. Over the past years, Airbus has been putting in place an industry leading compliance capability, and is cooperating with the relevant authorities on current proceedings.”