Airbus CEO Tom Enders called his 130,000 staff for support as he warned a “turbulent and confusing times” for Airbus amid French and UK fraud and corruption investigations could lead to large corporate penalties.
Last Friday Airbus CEO Tom Enders said, the Airbus could face “significant penalties” relating to ongoing corruption probes including one into the sale of fighter jets to Austria. “We are currently being investigated for alleged breaches of anti-bribery and anti-corruption laws,” Enders wrote in a letter to employees.
The investigators are looking into a case where an Airbus business unit in Paris reportedly built a network of shell companies linked to London-based Vector Aerospace, formerly the group’s aircraft maintenance subsidiary; The network allowed the group to make “bribes to decision-makers in Austria” while Vienna was considering its purchase of Eurofighter military jets, culminating in a 15-aircraft deal worth about €1.7 billion ($2 billion), German news magazine Der Spiegel reported Friday,
Following his call, the Airbus shares fell from its last week high of 82.25 euros to 79.91 euros a share.