Planemaker, Airbus has recorded a net loss € 1.36 billion in the 2019 financial year after paying record fines to the US, UK and France in a Deferred Prosecution Agreement over how it paid bribes to secure mouthwatering deals in 20 countries including Ghana.
The loss according to dw.com, the loss comes a year after the company reported a whopping net profit of € 3 billion in just 2018. It’s the corporate giant first loss after eleven years in operation
“The plane-maker, also a major defence and space supplier, agreed to pay a record $4 billion (€3.6 billion) after reaching settlements with investigators in Britain, France and the United States to end a probe that began four years ago.
French and British authorities have been investigating Airbus for alleged corruption over jet sales for more than a decade while the US has probed the plane-maker over suspected violations of US export controls,” dw had reported earlier this month.
The scandal has had reverberations around the world especially in countries that have been mentioned in the agreement. Executives of the company have resigned while investigations have been in countries that had dealings with Airbus.
It would be recalled that late last month, there were revelations by plane manufacturer Airbus SE, that it had an elaborate scheme that paid some €5 million to officials under the erstwhile National Democratic Congress (NDC) government, mainly through a close relative to a key elected government official at the time the bribe was paid, some Ghanaians who are curious to know the officials involved are digging deeper into clues provided by the company in court documents.
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