UK Markets close in 7 hrs 42 mins

Airbus close to settlement over alleged bribery and fraud

By Associated Press Reporters

Aviation giant Airbus says it has reached potential settlement agreements with financial investigators in the UK, US and France.

British and French authorities are investigating alleged fraud and bribery related to Airbus’ use of outside consultants to sell planes.

US authorities are also investigating Airbus’ compliance with American arms trafficking regulations.

The European plane maker said in a statement on Tuesday that it has “reached agreement in principle” with the investigating bodies, but released no details.

It said the potential settlement agreements must be approved by courts in the three countries.

Airbus, one of Europe’s leading manufacturers, has suffered financially because of the investigations, and has promised to cut out middlemen from its business dealings.