Post a Comment Print Share on Facebook

Airbus continues to suspect massive corruption

- 10 reads.

Airbus continues to suspect massive corruption

The European aircraft manufacturer Airbus is involved in a corruption scandal following a report by Spiegel. The magazine reports on external consultants and a system of black cash registers and mailbox companies, which should promote sale of civil and military aircraft.

Airbus has allegedly used a three-digit million amount for more than 100 corruption payments. In particular, it has gone to civil and military aircraft for customers in Kazakhstan, China and Indonesia. It threatens a penalty in billions of dollars.

Airbus has shown itself

Group CEO Tom Enders refore warned executives already in June that company would be in "a most indifferent position".

An important role was played by London company Vector Aerospace, around which a network of letterbox companies was created.

These are intended to run kickback payments. The prosecutor's office in Munich now wants to prosecute investigation.

Airbus had shown himself to British Serious Fraud Office (SFO). It was also about use of intermediaries. The United Kingdom, France and Germany subsequently suspended export guarantees for Airbus aircraft.

In May, Airbus had hired former finance minister, Theo Waigel, to analyse practices in an internal investigation. According to Enders, Waigel and his colleagues should take into account not only internal procedures but also corporate culture.

"We decide soon," said spokeswoman of prosecutor's office in Munich I, Hildegard Bäumler-Pam, on report. The upper prosecutor expressed its reluctance to pay bribes.

There have been few references to corruption in discharge of funds to company vector. Investigations are also underway in France because of accusations of corruption. And in Austria, Airbus has been in clinch for years with local authorities in connection with sale of Eurofighter fighter aircraft. If suspicion is confirmed, group threatens a billion-dollar penalty in mirror.

Heroes in descent pilots once enjoyed great prestige, sumptuous salaries and an early retirement. These privileges are at risk by low-cost flyers. The aircraft leaders react with frustration and aggression to ir descent. By Karl-Heinz Büschemann more...


You have to login for comment. If you are not a member? Register now.

Login Sign Up