Airbus CEO Warns Of Significant Fines Over Corruption Probe | 2/24/2016 | Staff
Tanya9 (Posted by) Level 3
PARIS (Reuters) – Airbus Chief Executive Tom Enders reiterated on Friday the group could face significant fines as the result of UK and French corruption investigations into the use of middlemen in plane sales.

“I cannot predict the outcome of this investigation but it is not impossible that the fine will be significant,” Enders told Le Monde in an interview.

Company - Alternative

“We know that all this is weighing on the company but we have no alternative.”

Britain and France have pledged to co-operate in their investigations, which were launched after Airbus disclosed anomalies last year in past filings on the use of agents.

Probe - Fighter - Sale

It also faces an Austrian probe over a 2003 fighter sale.

Enders told Le Monde he was not aware of any investigation being carried by the U.S. Department of Justice.

Airbus - Investigation - Hope - Deal - UK

Airbus is also conducting its own internal investigation in the hope of being offered a deal by UK prosecutors as a reward for co-operation and sharing results with investigators.

Legal experts say any settlement could cost significantly more than the roughly 700 million pounds paid by Rolls-Royce under a similar deal earlier this year.

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