AMSTERDAM --- In the context of the investigations by the French Parquet National Financier (PNF), the U.K. Serious Fraud Office (SFO) and the U.S. authorities, Airbus has reached agreement in principle with the authorities.
The investigations by the above authorities relate to allegations of bribery and corruption and to inaccuracies in filings made with the U.S. authorities pursuant to the U.S. International Traffic in Arms Regulations (ITAR).
The agreement with the SFO was the subject of a preliminary court ruling today and will require final judicial approval in a U.K. court. Furthermore, agreements with the PNF and the U.S. authorities also remain subject to approval by French court and U.S. court and regulator, respectively.
The court hearings in France, the U.K. and the U.S. are expected to take place on 31 January 2020.
If approved by the courts, the agreements will result in Airbus taking a provision of € 3.6 billion for the payment of potential penalties to the French, U.K., and U.S. authorities, which will be booked in Airbus' 2019 accounts.
Further details will be provided once the agreements have been finalised.
Airbus will continue to cooperate with the authorities.
Airbus is a global leader in aeronautics, space and related services. In 2018 it generated revenues of € 64 billion and employed a workforce of around 134,000. Airbus offers the most comprehensive range of passenger airliners. Airbus is also a European leader providing tanker, combat, transport and mission aircraft, as well as one of the world’s leading space companies. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions worldwide.