Aerospace

Airbus pays 15.9 mn euros to close French corruption probe

In order to avoid a corruption investigation into aircraft purchases in Kazakhstan and Libya between 2006 and 2011, a French judge on Wednesday allowed European aerospace firm Airbus to pay 15.9 million euros.

The payment was “reasonable and appropriate,” according to prosecutors from France’s national financial crime unit (PNF), who reached a settlement with Airbus earlier this month. They had previously emphasised the “repeated nature of corrupt operations” by the massive plane manufacturer, but they said that the company had cooperated on the “dated” allegations.

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According to Airbus release the Convention Judiciaire d’Intérêt Public (CJIP) between Airbus SE and the French Parquet National Financier, which was signed on November 17, 2022, has been accepted by the President of the Tribunal Judiciaire of Paris (PNF). This CJIP covers past matters, particularly those involving Libya and Kazakhstan, that involved the use of intermediaries in sales activities conducted before 2012. Due to procedural limitations, these couldn’t be addressed at the same time as the 2020 CJIP.

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According to the CJIP approved on 30 November, Airbus will have to pay a fine of 15,856,044 Euros. There is no monitorship obligation associated with this new CJIP. This CJIP will have no adverse impact on the 2020 settlements reached with the French, UK and US authorities in the context of their compliance investigations into Airbus.

The Company has taken significant steps since 2016 to reform itself by implementing a benchmark compliance system underpinned by an unwavering commitment to integrity and continuous improvement.

Aerospace

When Ratan Tata was denied entry to the airfield at the Aero India show, he waited

During our visit to Aero India 2019, we had the unexpected opportunity to see Ratan Tata at the event, which was a thrilling moment for us. However, there was a surprising hiccup when the security staff didn’t allow him to enter due to a lack of a security pass.

Despite this, he remained calm and patiently waited for about 20 minutes until a member of the Tata team brought him the required pass, after which he calmly proceeded inside. It was a humbling sight, showcasing his composed demeanor even in such situations.

Ratan Tata ji is not only a renowned industrialist but also a trained pilot, holding a pilot’s license. In 2007, he became the first Indian civilian to fly the F-16 Falcon during the Aero India show in Bangalore—a proud moment for the nation.

His passion for aviation extended beyond flying, as he played a key role in shaping India’s aerospace industry. Under his leadership, Tata ventured into manufacturing and maintaining aerospace components while upholding its legacy of quality. Notably, Tata’s collaboration with Airbus to develop and manufacture the C295 aircraft is a testament to its growing influence in the sector.