Airbus to pay around 1 billion euros in UK slice of global bribery settlement

FILE PHOTO: An Airbus A350-1000 performs during the 53rd International Paris Air Show at Le Bourget Airport near Paris, France June 18, 2019. REUTERS/Pascal Rossignol/File Photo

LONDON (Reuters) - Airbus, the world’s largest aircraft maker, will pay just under 1 billion euros ($1.11 billion)in a British settlement to draw a line under a three-and-a-half year criminal investigation into allegations of fraud, bribery and corruption.

The deal under a three-year Deferred Prosecution Agreement (DPA), ratified in London’s High Court on Friday, means the European planemaker avoids prosecution in London in a case that spanned transactions involving more than a dozen countries.

UK prosecutors said Airbus failed to prevent individuals associated with the company from bribery involving Malaysia’s AirAsia and AirAsia X, SriLankan Airlines, Taiwan’s TransAsia Airways, Garuda Indonesia and Citilink Indonesia. They said the case also involved the sale of military aircraft to Ghana.

Earlier on Friday France’s prosecutor said the plane maker would pay a total of 3.592 billion euros in global corruption fines once settlements are reached.

Reporting by Kirstin Ridley and Iain Withers; Editing by Rachel Armstrong