Latin American airline group Avianca Holdings SA is investigating whether it violated U.S. foreign bribery law by giving free tickets and upgrades to government officials.
Avianca Holdings, which is based in Panama, said Thursday in a securities filing that it notified the U.S. Justice Department and the Securities and Exchange Commission about the probe and was cooperating with the agencies. It also notified Colombia’s financial superintendent through the country’s securities exchange, where the airline group also is listed.
The group said the travel benefits were given to officials by employees that may have included senior management, as well as certain members of its board.
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