DGAP-Adhoc: Airbus reaches agreements with French, U.K. and U.S. authorities
DGAP-Ad-hoc: Airbus SE / Key word(s): Agreement
Airbus reaches agreements with French, U.K. and U.S. authorities
31-Jan-2020 / 18:30 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Ad-hoc release, 31 January 2020
Airbus reaches agreements with French, U.K. and U.S. authorities
- These agreements conclude investigations by authorities into the Company
- This outcome is the result of reporting, cooperation and new compliance standards at Airbus
- Airbus is determined to conduct business with integrity
Amsterdam, 31 January 2020 - Airbus has reached final agreements with the French Parquet National Financier (PNF), the U.K. Serious Fraud Office (SFO), and the U.S. Department of Justice (DoJ) resolving the authorities' investigations into allegations of bribery and corruption, as well as with the U.S. Department of State (DoS) and the DoJ to resolve their investigations into inaccurate and misleading filings made with the DoS pursuant to the U.S. International Traffic in Arms Regulations (ITAR).
Airbus has agreed to pay penalties of € 3,598 million plus interest and costs to the French, U.K. and U.S. authorities. The settlements with each authority are as follows: PNF € 2,083 million, the SFO € 984 million, the DoJ € 526 million and the DoS € 9 million of which € 4.50 million may be used for approved remedial compliance measures.
Airbus received credit from the authorities for having reported and for its consistently strong cooperation during the investigations.
Convention Judiciaire d'Intérêt Public with the PNF
Airbus has agreed to enter into a Convention Judiciaire d'Intérêt Public with the PNF. This agreement does not amount to an admission of liability. Under this agreement, the PNF has agreed to suspend prosecution of Airbus for a duration of three years. Prosecution will be discontinued if Airbus complies with the terms of the agreement throughout this period, which it is committed to doing. The agreement also contains an obligation for Airbus to submit its compliance programme to targeted audits carried out by the Agence Française Anticorruption (AFA) over a period of three years.
Deferred Prosecution Agreement with the SFO
Airbus has agreed to enter into a Deferred Prosecution Agreement with the SFO. This agreement does not amount to an admission of liability. Under this agreement, the SFO has agreed to suspend prosecution of Airbus for a duration of three years. Prosecution will be discontinued if Airbus complies with the terms of the agreement throughout this period, which it is committed to doing. In light of the continuing monitorship to be conducted by the French Anti-Corruption body, the AFA, no independent compliance monitor will be imposed on Airbus under the agreement with the SFO.
Deferred Prosecution Agreement with the DoJ
Airbus has agreed to enter into a Deferred Prosecution Agreement with the DoJ. Under this agreement, the DoJ has agreed to suspend prosecution of Airbus for a duration of three years. Prosecution will be discontinued if Airbus complies with the terms of the agreement during this period, which it is committed to doing. No independent compliance monitor will be imposed on Airbus under the agreement with the DoJ.
Consent Agreement with the DoS
Finally, Airbus has agreed to enter into a Consent Agreement with the DoS. Under this agreement, the DoS has agreed to settle all civil violations of the ITAR outlined in Airbus' voluntary disclosures identified in the Consent Agreement, and Airbus has agreed to retain an independent export control compliance officer, who will monitor the effectiveness of Airbus' export control systems and their compliance with the ITAR.
For legal reasons, Airbus cannot make any comment on the agreed Statements of Facts published by the investigating authorities.
Airbus has taken significant steps to reform itself and to ensure that this conduct will not reoccur. Airbus has significantly enhanced its compliance system under the supervision of an Independent Compliance Review Panel. The Company is committed to conducting business with integrity.
Denis Ranque, Chairman of the Board of Directors of Airbus, stated: "The settlements we have reached today turn the page on unacceptable business practices from the past. The strengthening of our compliance programmes at Airbus is designed to ensure that such misconduct cannot happen again. The agreements also reflect that the decision to voluntarily report and cooperate with the authorities was the right one. The commitment from the Board, and its Ethics and Compliance Committee, to provide full support to the investigation and the implementation of globally recognised compliance standards have paved the way to today's agreements."
Guillaume Faury, Chief Executive Officer of Airbus, added: "The agreements approved today with the French, UK, and US authorities represent a very important milestone for us, allowing Airbus to move forward and further grow in a sustainable and responsible way. The lessons learned enable Airbus to position itself as the trusted and reliable partner we want to be."
Airbus will continue to cooperate with the authorities in the future, pursuant to the agreements, and to install a strong Ethics & Compliance culture within the Company.
* * *
Airbus is a global leader in aeronautics, space and related services. In 2018 it generated revenues of € 64 billion and employed a workforce of around 134,000. Airbus offers the most comprehensive range of passenger airliners. Airbus is also a European leader providing tanker, combat, transport and mission aircraft, as well as one of the world's leading space companies. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions worldwide.
Contacts for the media
Guillaume Steuer [email protected] +33 6 73 82 11 68
Stefan Schaffrath [email protected] +33 6 16 09 55 92
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965485 31-Jan-2020 CET/CEST
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