Airbus faces years of investigation

Airbus faces years of investigation by French and UK authorities into allegations of corruption over jet sales.

There had been reports that British and French prosecutors met last month to discuss the terms of a settlement deal known as a deferred prosecution agreement (DPA) following a probe into the use of middlemen to sell jetliners. 

That could result in a fine of over £1bn (€1.13bn), it was reported, but experts said it was premature to talk about a settlement in an inquiry widely expected to drag on for years.

Britain’s Serious Fraud Office head David Green had hoped to agree a DPA with Airbus before leaving in April next year.

The investigations began after Airbus drew the attention of regulators to inaccurate declarations it had made to Britain’s export credit finance agency over payments to sales agents. 

The fraud office launched its investigation in August 2016, followed seven months later by the Parquet National Financier, which legal experts say makes it a relatively young investigation for such a complex case. 

Airbus has said the process may be a long one. 

Some analysts say the company could nonetheless face a record fine once the proceedings have played out.


More in this Section

British farmers at risk of ploughing lonely furrow

More currency volatility seems to be on horizon

Reform of local property tax flaws is overdue

Correlation between studying economics and greed


Breaking Stories

Food retailer Iceland aims to be plastic-free across own label range by 2023

More jobs and pay hikes expected in 2018

Lender slumps on huge loss

Dealz plans to open 10 more stores, sell fashion lines

Lifestyle

Hopefully she had an idea...

Power of the press: Meryl Streep and Tom Hanks discuss 'The Post'

What to expect from Call The Midwife

More From The Irish Examiner