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

EASA Ends Suspension on PIA, Approves Flights to Europe

Pakistan's National Airline Set for Privatization as Elections Loom

The suspension of Pakistan International Airlines (PIA) from operating in Europe is finally over, marking a significant turning point for Pakistan’s aviation sector.

After years of scrutiny and stringent safety assessments, the European Commission and the European Aviation Safety Agency (EASA) have officially lifted the ban on PIA. This decision also grants Airblue authorization to operate flights to Europe, further enhancing Pakistan’s connectivity with the region.

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PIA’s suspension, initially imposed in June 2020, was a direct consequence of concerns regarding the oversight capabilities of Pakistan’s Civil Aviation Authority (PCAA). These concerns were triggered shortly after a tragic PIA plane crash that claimed 97 lives, prompting an investigation into the validity of pilot licenses issued in the country.

Now, after four years of continuous efforts and reforms by the PCAA, EASA has expressed renewed confidence in Pakistan’s aviation regulatory framework. In a statement, EASA highlighted that Pakistan has successfully addressed safety compliance issues, enabling PIA to resume its operations within the European Union.

A spokesperson for PIA expressed optimism, emphasizing the airline’s commitment to strictly adhere to EASA’s regulations and guidelines. “This milestone has been achieved after four years of relentless efforts by the PIA management,” the spokesperson said.

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The lifting of the ban is expected to have a profound impact on PIA’s future. The airline, which employs over 7,000 people, has faced criticism in the past for poor management, financial instability, and regulatory challenges.

However, the restoration of European operations is seen as a vital step toward regaining its competitive edge, improving its financial standing, and restoring its reputation on the global stage.

Pakistan’s government, which has been exploring options to privatize the debt-laden national carrier, is hopeful that this development will attract foreign investment and bolster the country’s aviation industry.

With a renewed focus on compliance and safety, PIA is now poised to rebuild its presence in Europe, offering Pakistani travelers and international passengers more connectivity and improved service.