A French prosecutor said in court that the plan helped to boost the company’s profits by 1.05 billion euros ($1.2 billion). It agreed to pay 2.1 billion euros to France, 991 million euros including costs to the U.K. and 527 million euros to American authorities. Airbus used the 150-person strategy and marketing department to pay bribes to win business, according to prosecutors in Washington, D.C. The total Airbus fine surpasses J&F Investimentos’ 2017 penalty of about $3.2 billion, billed the world’s largest bribery settlement at the time. The U.K. settlement is also the largest ever, surpassing the then-record 500-million-pound ($651 million) fine paid by jet-engine maker Rolls-Royce Holdings.

Source: Los Angeles Times February 01, 2020 02:37 UTC