AirAsia executives step down amid Airbus bribery fallout
AirAsia CEO Tony Fernandes and chairman Kamarudin Meranun have stepped down over bribery allegations tied to a major Airbus corruption probe.
The airline group is being investigated by the Malaysian Anti-Corruption Commission as well as Malaysia’s Securities Commission.
In a joint statement, the pair said: "We categorically deny any and all allegations of wrongdoing or misconduct on our part as directors of AirAsia.
"We would not harm the very companies that we spent our entire lives building up to their present global status."
But they said they were stepping down, with immediate effect, for two months or ‘such other period that the companies may deem fit’ while an independent investigation takes place.
On Saturday, AirAsia issued a statement denying it was paid a bribe of $50 million to buy 180 planes from Airbus.
The allegations emerged after Airbus agreed to pay $4 billion in fines to settle accusations of corruption.
AirAsia’s statement said: "AirAsia is deeply concerned that these allegations will have an adverse and negative impact on the AirAsia brand, reputation and goodwill.
"AirAsia is monitoring developments in this matter and will review any allegations or negative inferences concerning or affecting AirAsia and/or any of its executives and will fully cooperate with the Malaysian Anti-Corruption Commission and the relevant authorities where required."
The Commission is looking into whether AirAsia Group and AirAsia X broke securities laws after the UK’s Serious Fraud Office named the airline as one of the recipients of bribes by people working on behalf of Airbus.
The SFO alleged the Caterham F1 motor racing team received $50 million from Airbus ex-parent EADS for sponsorship in exchange for AirAsia agreeing to an aircraft order from Airbus.
Caterham was owned by AirAsia Group CEO Tony Fernandes and chairman Kamarudin Meranun.
The airline group is also the subject of an investigation into money laundering in India where Fernandes and other AirAsia executives, including the newly appointed acting CEO, have been summoned for a second time to answer allegations of bribing officials.
Last year Kamarudin Meranun escaped the prospect of a criminal trial after agreeing to pay RM3.64 million (about $900,000) to the Securities Commission Malaysia for alleged insider trading.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
TAP Air Portugal to operate 29 flights due to strike on December 11
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Airbnb eyes a loyalty program but details remain under wraps