Airbus shares sink on reports of DOJ probe

Regis Duvignau | Reuters

An Airbus A220-300 aircraft, a new brand for the CSeries passenger jet acquired from Canada’s Bombardier, flies during its unveiling in Colomiers near Toulouse, France, July 10, 2018.

Airbus shares slumped 9 percent Thursday morning on reports the company is being investigated by the U.S. Department of Justice (DOJ) for “inappropriate practices.”

France’s Le Monde on Thursday reported, citing anonymous sources, that the aircraft manufacturer is facing an investigation into suspicious practices that includes alleged corruption in commercial contracts between France and Kazakhstan. Airbus was not immediately available for comment when contacted by CNBC.

Airbus has already faced questioning from the U.K.’s Serious Fraud Office (SFO) and France’s National Financial Prosecutor’s Office (PNF) over the last two years.

According to the newspaper, the company was informed by U.S. authorities at the end of summer. The newspaper, however, didn’t state where it has received this information from. The company is cooperating with U.S. authorities in close coordination with the SFO and PNF, according to Reuters.