William Malcolm

Airbus Reports Loss Due To Bribery Settlement

Airbus suffered a €1.4 billion annual loss in 2019 after agreeing to pay record penalties for bribery.

The European aerospace group reached settlement agreements with the UK, France, and the US to close a four-year-old bribery investigation. Airbus agreed to pay a record total of €3.6 billion in fines.

The company also lost €1.2 billion on its troublesome A400M military transport project.

Overall revenues grew 11% to €70 billion in 2019, a record for the company. Which announced it would pay out €1.80 dividend per share.

Airbus surpassed rival manufacturer Boeing delivering 863 commercial planes to Boeings 380.

“We achieved a great deal in 2019. We delivered a strong underlying financial performance driven mainly by our commercial aircraft deliveries…Our focus in 2020 will be on reinforcing our company culture, improving operationally, and adjusting our cost structure to strengthen financial performance and prepare for the future.” Airbus chief Guillaume Faury said.