Corruption Currents: U.K. Export Agency Grounds Airbus Deals Amid Bribery Probe.
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| Airbus customers have taken almost half of the UK export finance providedPASCAL LE SEGRETAIN/GETTY IMAGES |
British taxpayers have supported more than £11 billion of funding in 220 separate deals in the past decade to sell aircraft built by Airbus, the Franco-German company that is under criminal investigation for bribery and corruption in its sales practices.
Britain’s export credit agency confirmed it would not do any more Airbus deals until it had received satisfactory assurances about “current practice with regard to overseas agents”.
Airbus’s dependence on routinely getting UK government credit lines for short-term loans and bank guarantees to its customers has been revealed in disclosures by UK Export Finance, the Whitehall agency formerly known as the Export Credits Guarantee Department...
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