Friday, October 23, 2020

U.S. court approves Airbus $4 billion settlement over bribery charges

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U.S. District Judge Thomas Hogan on Friday approved a deal to resolve the Justice Department’s probe into charges airplane Airbus SE violated anti-bribery laws and export controls.

“It was a pervasive and pernicious bribery scheme in various divisions of Airbus SE that went on for a number of years,” Hogan said in court.

Under the deal, Airbus is paying about $4 billion worldwide. Airbus will pay the U.S. Treasury about $527 million, a U.S. prosecutor said in a court hearing Friday. Airbus will face oversight from an outside monitor. Prosecutors will not pursue criminal prosecution against the company over the next three years as long as they are in compliance with the agreement.

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