AirAsia CEO Fernandes and chairman step aside as Airbus bribery allegations probed

📆 2/3/2020 6:08 PM
📰 The Straits Times

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KUALA LUMPUR (REUTERS) - AirAsia Group CEO Tony Fernandes and chairman Kamarudin Meranun will step aside for at least two months while the airline and authorities investigate allegations Airbus paid a bribe of US$50 million (S$68.4 million) to win plane orders from the company.. Read more at straitstimes.com.

KUALA LUMPUR - AirAsia Group CEO Tony Fernandes and chairman Kamarudin Meranun will step aside for at least two months while the airline and authorities investigate allegations Airbus paid a bribe of US$50 million to win plane orders from the company.

Senior company executive Tharumalingam Kanagalingam will be the acting CEO, with the changes effective immediately. Shares in AirAsia and unit AirAsia X fell on Monday after the allegations by Britain's Serious Fraud Office came to light on Friday . The allegations were revealed as part of a record US$4 billion settlement Airbus agreed with France, Britain and the United States.

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