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Home / Business / Companies / Airlines

Airbus corruption probe launched by UK fraud office

Reuters
7 Aug, 2016 07:25 PMQuick Read

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An Airbus A380 - the world's largest commercial aircraft. UK's Serious Fraud Office is looking into the way plane sales are made by the European plane maker.

An Airbus A380 - the world's largest commercial aircraft. UK's Serious Fraud Office is looking into the way plane sales are made by the European plane maker.

Britain's Serious Fraud Office is launching a formal investigation into suspected fraud, bribery and corruption in connection with commercial plane sales by Airbus, parent company Airbus Group says.

A UK government agency this year suspended the issue of export credits to Airbus, citing discrepancies in declarations by the plane maker on the use of third-party intermediaries during jet sale negotiations.

The agency, UK Export Finance, had said it was referring the discrepancies to the SFO, which would decide whether to launch a criminal investigation.

"Airbus Group has been informed by the SFO that it has opened a criminal investigation into allegations of fraud, bribery and corruption in the civil aviation business of Airbus Group relating to irregularities concerning third party consultants," the company said in a statement.

"Airbus Group continues to cooperate with the SFO."

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French and German agencies have also halted export credits to the plane maker, which support deliveries to airlines with limited access to commercial funds.

- Reuters

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