Airbus braces for a difficult landing after corruption allegations

(Guardian, London, 5 November 2017) A UK Serious Fraud Office probe into allegedly misleading statements made by Airbus to UK Export Finance, the government department that provides commercial support for major deals has ballooned with further allegations of corruption. The investigation concerns whether Airbus lied to the government about its use of intermediaries. It is understood that Airbus has not received any further support from UKEF since it was informed of the allegations in April last year. Der Spiegel has published a lengthy investigative piece alleging that Europe’s largest aerospace multinational had operated a London slush fund, distributing millions of dollars to accounts held by companies in tax havens. Before the month was out, the firm would reveal to investors that it had reported itself to authorities in the US, this time over potentially breaching regulations on the use of agents to sell sensitive weapons technology.