Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Sri Lanka to probe graft accusations over Airbus deal

Stock MarketsFeb 03, 2020 02:34AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

COLOMBO (Reuters) - Sri Lanka has ordered a probe into accusations of bribery by European planemaker Airbus (PA:AIR) to pave the way for the sale of aircraft to state-run carrier SriLankan Airlines, after the firm agreed a settlement with regulators.

The Indian Ocean nation was among the countries whose officials figured in a $4-billion settlement Airbus agreed with European and U.S. regulators, as having been accused of getting bribes to clinch sales of its aircraft.

Sri Lanka will conduct "a comprehensive investigation into reports of allegations over financial irregularities", the office of President Gotabaya Rajapaksa said in a brief statement on Sunday.

Detailed findings from Britain's Serious Fraud Office (SFO) said Airbus had hired the wife of a Sri Lankan Airlines executive as its intermediary and misled export credit agency UKEF over her name and gender, while paying $2 million to her company.

In a statement, SriLankan Airlines said its chairman and board had directed the management to cooperate fully with any government agency regarding any investigation or prosecution.

The board had also told the management to "preserve and study all available internal documentation with a view to take all possible corrective future action," it added in Sunday's statement.

The alleged corruption in dealings between Airbus and SriLankan Airlines took place between July 2011 and June 2015, the SFO added.

Saturday's announcement of the Airbus settlement followed a nearly four-year investigation spanning sales to more than a dozen overseas markets.

Sri Lanka to probe graft accusations over Airbus deal
 

Related Articles

Ukraine looks for ways to get its grain out
Ukraine looks for ways to get its grain out By Reuters - May 25, 2022

By Pavel Polityuk and Silvia Aloisi KYIV (Reuters) -Ukraine is seeking ways to get grain and vegetable oils out of the country by breaking a months-long blockade of the Sea of...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email