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Report: Airbus CEO tells staff to brace for fallout from corruption probes

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Report: Airbus CEO tells staff to brace for fallout from corruption probes

Airbus Group SE CEO Tom Enders told staff that the company could suffer "significant penalties" from the ongoing bribery and corruption investigations in the U.K. and France, Reuters reported.

In a letter to 130,000 Airbus employees, Enders warned of "turbulent and confusing times" and defended the decision to report irregularities to authorities. He urged workers to support the company's top management and the board.

The U.K.'s Serious Fraud Office, or SFO, in August 2016 launched an inquiry into Airbus' use of third-party consultants to win international aircraft orders, according to the Financial Times. The probe followed the company's admission that it had failed to notify export credit authorities regarding the consultants on certain deals.

Airbus said in March that France's Parquet National Financier had also opened a preliminary investigation into the same issue and that it will coordinate with the SFO. The company said it will fully cooperate with both authorities.