Court describes ‘endemic’ bribery aimed at securing Airbus orders

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TomcatViP

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From FlightGlobal:

https://www.flightglobal.com/news/c...imed-at-securing-airbus-orders/136482.article
Details of the findings of the related French investigations, which contributed to the overall €3.6 billion settlement [for €2. 1 billion], have yet to be disclosed. The US portion of the settlement totals €526 million.
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Deferred prosecution – which applies only to organisations, rather than individuals – allow prosecution for economic crimes to be conditionally suspended for a fixed period.
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https://www.flightglobal.com/news/a...tive-as-penalty-details-emerge/136480.article
Airbus just invented the penal air chartering business, mass flying you out of prosecution!

Hope that they will also close the troll nurseries...
 
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Airbus penality is expected to swallow most of Airbus profit this year

La pénalité, qui ne vaut pas reconnaissance de culpabilité, devrait donc engloutir la majeure partie des profits d’Airbus. Le groupe avait dégagé un bénéfice net de 3,1 milliards d’euros en 2018 et présentera ses résultats annuels de 2020 le 13 février.
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The penalty, which is not worth admitting guilt, should therefore swallow up most of Airbus' profits. The group had posted a net profit of 3.1 billion euros in 2018 and will present its annual results for 2020 on February 13.
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https://www.ladepeche.fr/2020/02/01/le-detail-de-lamende-record-dairbus-connu,8702842.php
 
La pénalité, qui ne vaut pas reconnaissance de culpabilité = The fine, which does not amount to adjudication of culpability

Google translate will sometimes mangle legal language. QED.
 
Yes. I made my mind that readers would make the correction by themselves for such a minor aspect of a startling reported story.. .
 
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I'd prefer them to back up the corporate fine with some actual prosecutions of the people responsible. It's the only way we'll stamp this out of the industry.
 
The worst is that the improper gains made by some has de-facto been "legalized" with no attempt to recover it, that way putting also the burden of debts on honest shareholders.

Reaching out for Coucou ending-up with the Cuckoo...
 
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The division at the time of the internal scrutiny was headed by Guillaume Faury, who took over last year as Airbus's group chief executive. Suspect helicopter deals were flagged for various reasons, according to the documents.

Some middlemen payments appeared to executives as excessive compared with the underlying helicopter orders involved, according to the documents. Others were flagged, according to the documents, for what executives suspected was improper due diligence or lack of supporting paperwork.
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https://www.marketscreener.com/amp/AIRBUS-SE-4637/news/Airbus-Copter-Deals-Scrutinized-30165603/
 

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