Fraud probe may impact Airbus
EUROPEAN aircraft maker Airbus said yesterday that investigations into fraud, bribery and corruption by the French and British authorities could impact its earnings.
Airbus also said in a statement it was still battling delivery problems of the new fuel-efficient engines for its A320neo jet, even if tailwinds from exchange rate effects boosted its bottom line in the third quarter.
“The investigations initiated by the UK’s Serious Fraud Office [SFO] and France’s Parquet National Financier [PNF] could have a material impact on the financial statements, business and operations of Airbus,” it said.
“However, at this stage it is too early to determine the likelihood or extent of any such possible consequence.”
Airbus is being investigated in France and Britain for alleged irregularities concerning thirdparty consultants that the company itself detected and alerted to the authorities.
The planemaker is also under investigation in Austria and Germany for possible corruption related to the sale of Eurofighter jets to Austria.
Turning to its business performance in the third quarter, Airbus said that net profit amounted to million (R5.7billion) in the three months to September, up from just million (R821-million) in same period a year earlier.
Third-quarter revenues advanced by 2% to billion (R233-billion). — AFP the