close

News WrapGet Handpicked Stories from our editors directly to your mailbox

Airbus CEO warns of significant impact from corruption probes

Updated: Fri, Oct 06, 2017
09:52 pm
Reuters
RELATED NEWS
FM Sitharaman asks G-20 to take steps to revive growth, create reforms FM Sitharaman asks G-20 to take steps to revive growth, create reforms
India is world's fastest-growing economy, but this time there is a tie with China, says IMF India is world's fastest-growing economy, but this time there is a tie with China, says IMF

Airbus Chief Executive Tom Enders has warned staff of "turbulent and confusing times" amid French and UK anti-bribery and corruption investigations and urged them to support the aerospace group`s top management and the board.

In a letter to 130,000 staff on Friday, Enders defended the decision to report anomalies to UK authorities, which had triggered the probes, and said he and general counsel John Harrison had the board`s backing to see the process through.

The investigations could however lead to "significant penalties" against the group, he said, according to a text of the letter obtained by Reuters.

Airbus declined comment.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)