Airbus admits inaccuracies in US defence export filings
Airbus has revealed it has breached US export regulations governing defence-related sales through inaccuracies in its disclosures regarding payments to middlemen. The company is already under investigation in France, the UK, Germany and Austria and this latest revelation adds to the rising controversy over Airbus's compliance with global export regulations. The European flagship aerospace and defence group has also acknowledged that it is going to miss delivery targets for one of its most popular models. Airbus is currently in talks with the Department of State and the Department of Justice in the US.
European plane maker Airbus notified U.S. regulators about shortfalls reporting certain defense-related deals, adding to its global compliance woes, The Wall Street Journal reports. The company said it would miss delivery targets for one of its most popular plane models, the latest in a series of production setbacks as it struggles to make all the new planes it has sold.

The company said it had reported itself to U.S. authorities about errors made on equipment exports, adding that it was cooperating with U.S. authorities and couldn’t determine if there would be a financial penalties, The Journal adds.

According to Airbus Chief Financial Officer Harald Wilhelm, the transgression related to a failure to properly notify U.S. authorities about the use of outside sales agents, who help broker deals of defense equipment and services.

Wilhelm stressed that Airbus first notified U.S. authorities about a potential problem late last year, which triggered a more in-depth review and, in July, led the company to formally inform U.S. authorities rules were broken.

The wrongdoing concerns compliance with the Part 130 section of U.S. International Traffic in Arms Regulations rules into political contributions, fees and commission involved in export of military equipment, The Journal adds.

Airbus wouldn’t speculate on its potential financial or criminal exposure, as the company is in talks with both the State Department, which would lead any civil probe, and the Justice Department, which could lead a criminal probe, The Journal informs.