Airbus CEO warns of turbulence as fraud probe fallout widens

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OCTOBER 6, 2017

Chief Executive Tom Enders has called for the support of the company’s 130,000 staff and warned of “turbulent and confusing times” amid French and UK fraud and corruption investigations that could lead to large corporate penalties.

In a letter on Friday, Enders defended the decision to report anomalies to UK authorities, which had triggered the probes, and said he and general counsel John Harrison had the board’s backing to “lead us through the process of bringing this issue to closure”.

The potentially lengthy investigations could however lead to “significant penalties” against Airbus, he said, according to a text obtained by Reuters.

Airbus declined to comment.