BDRBF - Bombardier faces U.K. bribery probe over plane sales

The U.K. Serious Fraud Office says it is investigating Canada's Bombardier ([[BDRAF]], [[BDRBF]]) over suspected bribery in airplane sales to Garuda Indonesia.Bombardier is the latest aerospace company to face scrutiny over the use of middlemen after authorities struck a record bribery settlement with Airbus in January and a 2017 plea deal with Rolls-Royce, with both settlements involving sales of planes or engines to Garuda and airlines in other countries.Bombardier earlier reported below-consensus Q3 operating profits, largely due to the pandemic, and CEO Eric Martel said he expects layoffs as part of broader plans to cut excess capacity.

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Bombardier faces U.K. bribery probe over plane sales