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Tuesday, September 21, 2021

Bombardier Faces Bribery Investigation from British Authorities

The United Kingdom’s Serious Fraud Office announced on Thursday afternoon that it was investigating Canada’s industrial group Bombardier over suspected bribery in airplane sales to Garuda Indonesia.

The United Kingdom’s Serious Fraud Office announced on Thursday afternoon that it was investigating Canada’s industrial group Bombardier over suspected bribery in airplane sales to Garuda Indonesia.

“The Serious Fraud Office is investigating Bombardier Inc over suspected bribery and corruption in relation to contracts and/or orders from Garuda Indonesia. As this is a live investigation, the Serious Fraud Office can provide no further comment,” the agency said in a statement.

In Montreal, Bombardier said it had been informed about the Serious Fraud Office investigation several weeks ago and would cooperate. The company pointed out it has appointed external lawyers to run an internal review.

Shares in Bombardier, which also reported results on Thursday, fell more than 3 percent after the Serious Fraud Office’s announcement. They ended down 1.7 percent.

The plane and train maker is the latest aerospace group to face scrutiny over the use of middlemen after authorities struck a record bribery settlement with Europe’s Airbus in January.

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