Airbus has agreed to reach a settlement with the U.K. Serious Fraud Office, French and U.S. authorities regarding an investigation into allegations of bribery and corruption.
“Airbus confirms that it has reached agreement in principle with the French Parquet National Financier, the U.K. Serious Fraud Office and the U.S. authorities,” Airbus said in a statement.
“These agreements are made in the context of investigations into allegations of bribery and corruption as well as compliance with the U.S. International Traffic in Arms Regulations (“ITAR”). They remain subject to approval by French and U.K. courts and U.S. court and regulator,”
Airbus said for legal it “cannot make any comments on the details of its discussions with the investigating authorities.”
Some media reports suggest the planemaker may have to pay out ‘huge sums’ to reach the settlement.
The charges involve the use of intermediaries in securing jet orders, a practice that Airbus relied on for years as it tried to reach parity with US rival Boeing .