Airbus faces criminal corruption investigation in Britain

The maker of the A320 and A380 stated the probe by the U.K. Serious Fraud Office is linked to the use of third-party specialists by its traveler aircraft company.

Airbus (EADSF) stated it found “misstatements and omissions” in details it supplied about the consultants in applications for export funding for a few of its clients.

The company, which competes with Boeing (Bachelor’s Degree) around the world, announced in April it notified the Serious Fraud Office and export credit agencies about the irregularities it had discovered.

It stated Sunday it’s cooperating with the investigation in the U.K.

Export credit funding normally takes the form of loans and insurance coverage offered to business to help them cover the dangers of selling items overseas.

After Airbus reported the abnormalities previously this year, export credit companies in Europe halted some of the funding to the company. The plane maker said last month it’s intending to get the funding restored by the fourth quarter of this year.

Airbus also stated it’s carrying out a comprehensive evaluation of its relationships with third-party consultants.