November 1, 2022

European aerospace company in settlement talks with PNF

In the company’s nine-month financial statement released on October 28, 2022, Airbus SE indicated that it is cooperating with French authorities in investigations related to activities in Kazakhstan and Libya.  Airbus stated that it has been granted “assisted witness” status in the Parquet National Financier’s (PNF) Kazakhstan investigation, and that it has responded voluntarily to requests for information in the Libya investigation.   Furthermore, the company is in settlement talks with the PNF, and hopes to conclude a Convention judiciaire d’intérêt public (CJIP) with the PNF.

Airbus entered into a CJIP with the PNF and globally in January 2020, but that agreement did not incorporate the results of the investigations in Kazakhstan and Libya.  According to the company, the anticipated CJIP will be an extension of the 2020 settlement, and will not have an adverse effect on it.  In shareholder litigation arising out of Airbus’ settlements with French, UK and US authorities and historic practices relating to third-party business partners and anti-corruption compliance, the US District Court for the District of New Jersey granted its final approval and finalized a $5 million settlement on September 30, 2022.

The company reported, in another context, that it continues to cooperate fully with German authorities, who, following self-disclosure by Airbus, are investigating the potentially improper advance receipt and communication of confidential customer information by employees of Airbus Defence and Space GmbH in connection with government procurement projects. 

Financial Statement | Shareholder settlement