Airbus in talks to settle ECA fraud claims for £1 billion

(Evening Standard, London, 15 September 2017) The Serious Fraud Office and French prosecutors are in close discussion over the terms of a £1 billion-plus settlement for Airbus over corruption allegations. The deal, called a Deferred Prosecution Agreement (DPA), would be the largest ever in Europe, after a year-long investigation into irregular payments by Airbus to intermediaries. The French and German-owned plane maker allegedly used highly-paid fixers around the world to sell A380 planes worth billions to China, Turkey, Indonesia, the United Arab Emirates and others.  Sales to Kazakhstan, Tunisia and Saudi Arabia are being investigated separately. Airbus has admitted “misstatements and omissions relating to information provided in respect of third party consultants in certain applications for export credit finance for Airbus customers”.