UK’s Serious Fraud Office Opens Criminal Investigation At Airbus

Airbus Group Investigation

(Source: UK Serious Fraud Office; issued August 08, 2016)

The Director of the Serious Fraud Office has opened a criminal investigation into allegations of fraud, bribery and corruption in the civil aviation business of Airbus Group.

These allegations relate to irregularities concerning third party consultants.

If you have any information, please contact us through our secure and confidential reporting channel.

Notes to editors:
-- When providing information please quote ‘Airbus investigation’ on the reporting form.
-- The SFO opened its investigation in July 2016.
-- The SFO can make no further comment at this time.

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Airbus Group Statement On Proceedings Regarding European Credit Agencies Disclosure

(Source: Airbus Group; issued Aug 07, 2016)

Airbus Group SE refers to its previous disclosures‎ relating to cooperation with the UK Serious Fraud Office (SFO) and the European Export Credit Agencies.

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.

Airbus Group continues to cooperate with the SFO.

Airbus Group is a global leader in aeronautics, space and related services. In 2015, the Group – comprising Airbus, Airbus Defence and Space and Airbus Helicopters – generated revenues of € 64.5 billion and employed a workforce of around 136,600.

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Criminal Investigation Into Allegations of Fraud, Bribery and Corruption In Passenger Jet Business (excerpt)

(Source: Financial Times; published August 7, 2016

by Peggy Hollinger

Britain’s Serious Fraud Office has opened a criminal investigation into allegations of fraud, bribery and corruption in the passenger jet business of Airbus, where deals were struck using third-party consultants.

The company issued a statement late on Sunday night, although it had been informed by the SFO of the criminal inquiry two days earlier, on Friday.

Airbus first revealed, late on a Friday night in April, that it was in discussions with the SFO after having admitted it had failed to notify authorities on the use of third-party agents in deals which it was asking the UK government to cover with financing guarantees.

The UK’s export credit agency and its counterparts in France and Germany all suspended financing after the disclosure. Airbus said at the end of July that it had agreed a process with the UK export credit agency to resume financing by the end of the year. Roughly 6 per cent of Airbus deliveries were covered by export credit last year.

However, a rapid resumption of export credit remains in doubt.

A spokesperson for UK Export Finance, the credit agency, said: “UKEF continues to work closely with Airbus and French and German export credit agencies to understand the extent of the matter and to seek assurances about its current compliance practices in relation to overseas agents.”

The agency said it would “follow closely other UK government agencies’ investigations and respond accordingly.” (end of excerpt)

Click here for the full story, on the Financial Times website.

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