The European aerospace and defence industry is asking firms to sign up to a voluntary code of ethics in a drive to improve the industry’s reputation.

According to the Financial Times, companies will commit themselves to a set of common industry standards, including ensuring that no money or other gifts are illicitly channelled to a potential government customer.

Companies will also be asked to ensure independent advisors are used on foreign arms deals.

The move comes as Bae faces renewed scrutiny over the 1980s Al-Yamamah arms deal with Saudi Arabia.

By staff writer