Airbus Slapped With Fresh Bribery Case Settlement In France

Airbus SE EADSY EADSF and French authorities are reportedly negotiating a 2020 bribery settlement that could lead to an expansion.
French publication Mediapart said Airbus was being investigated for alleged bribery in selling 21 jets to Libya in 2007 as part of a broader probe into links with Libya under late leader Muammar Gaddafi.
Mediapart said Airbus is close to a new settlement, dubbed Public Interest Agreement (CJIP), which typically involves fines in lieu of suspending criminal charges.
"I can confirm discussions are underway with Airbus with a view to concluding a CJIP concerning matters that are an extension of those involved in the 2020 CJIP, but which could not be treated at that time," Reuters reported citing a PNF spokesperson.
In 2020, Airbus admitted to extensive past use of bribes and agreed to pay €3.6 billion fine to France, Britain, and the U.S., including €2.1 billion to French authorities.
The 2020 French CJIP cited corruption of foreign officials, fraud, and money laundering in selling jets and satellites.
Reuters also reported that Saudi Arabian Airlines is in talks with Airbus and Boeing Co BA on orders for itself and a new carrier the kingdom plans to launch, the state-owned airline's chief executive said.
According to Monday reports, Saudi Arabia's wealth fund was negotiating to order almost 40 A350s from Airbus.
Price Action: EADSY shares are up 5.04% at $25.84 on the last check Tuesday.