Airbus shares tumble on reports of US investigation

Shares of global aerospace major Airbus fell by around 5 per cent during Thursday's afternoon trade session on the Paris Stock Exchange, after international reports said US would join a global investigation on the company over corruption allegations.

Accordingly, the scrip of the aircraft manufacturer traded at 82.92 euros per piece at 14.50 CET (7:20 p.m. IST) down 4.91 per cent from its previous close of 87.20 euros.

The stock has touched an intra-day low of 78.83 euros.

The sharp correction in the scrip price was triggered after international media cited a report by France-based newspaper -- Le Monde -- which said that the US is joining a global inquiry over the company's usage of agents or intermediaries when it negotiated several large contracts abroad, particularly in Asia.

As per the newspaper's report, the US Department of Justice (DoJ) launched an official investigation at the end of 2017.

In addition, the company faces investigations by the British Anti-Corruption Agency and from the National Financial Prosecutor's Office (PNF) in Paris.  - IANS