Airbus works with US authorities over inaccuracies in its arms trafficking filings

 
Helen Cahill
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Plane maker Airbus said this morning that it is co-operating with US regulators over inaccuracies in its filings on US arms trafficking.

In its quarterly earnings, Airbus said it could not estimate how long it would take to address the issue, or the costs involved.

Read more: Airbus sets up heavyweight independent compliance panel after bribery probe

"Following a review of its US regulatory compliance procedures, Airbus has discovered and subsequently informed relevant US authorities of its findings concerning certain inaccuracies in filings made with the US Department of State pursuant to Part 130 of the US International Traffic in Arms Regulations (ITAR)," the firm said.

Part 130 of the regulations relates to the use of agents and how commissions are paid.

Airbus is also currently under investigation by the Serious Fraud Office (SFO) and France's Parquet National Financier (PNF) for alleged corruption.

"The SFO and PNF investigations and any penalties potentially levied as a result could have negative consequences for Airbus," the company said.

It said the outcome of the probe could have a "material impact" on Airbus' financial statements, business and operations.

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