Airbus Faces UK Criminal Investigation Over Export Control Breaches

Airbus is under a criminal investigation in Britain for potential violations of export control rules involving several of its British entities. The probe follows an audit by British authorities in 2022. Airbus, cooperating fully, does not foresee a material financial impact. This comes after a similar issue in the US was resolved.

Airbus is facing a criminal investigation in Britain into potential violations of export control rules involving several of its British entities, the aerospace group stated on Tuesday. The inquiry, mentioned in the firm's half-yearly earnings report, has Airbus fully cooperating with Britain's Revenue and Customs agency (HMRC).

"Airbus is working with all relevant authorities to ensure full remediation of all identified deficiencies," an Airbus spokesperson said, responding to a Reuters query about the investigation. They added that this would likely not have a material financial impact. A spokesperson for HMRC, referring to its policy, declined to comment on ongoing investigations.

Airbus indicated that the probe began after a 2022 audit by British export control authorities. This follows around nine months after the U.S. State Department dropped similar charges.

In January 2020, Airbus resolved extensive investigations across Britain, France, and the US into corruption allegations by paying 3.6 billion euros and agreeing to a three-year monitoring plan under U.S. export regulations.

(With inputs from agencies.)