Malaysia based low cost Airline. AirAsia has denied allegations it was bribed $50m by planemaker Airbus to win plane orders from the company.
Last week, Airbus agreed to settle a fine of $3.6 billion for paying huge amount of money as bribe to airlines in 20 countries to win contracts.
The allegations were, AirAsia broke securities laws and was bribed $50m through middle man to purchase 180 Aircraft.
The company said its Group boss Tony Fernandes and Chairman Kamarudin Meranun will step aside for at least two months while the airline and authorities investigate alleged allegations.
Senior company executive Tharumalingam Kanagalingam will be the acting CEO, with the changes effective immediately.
AirAsia has said it will fully cooperate with Malaysia’s Anti-Corruption Commission, which is working alongside Britain’s Serious Fraud Office (SFO) probing the claims.
In a joint statement, Fernandes and Kamarudin denied any allegations of wrongdoing or misconduct as directors of AirAsia.“We would not harm the very companies that we spent our entire lives building up to their present global status,” they said.
Shares of AirAsia and unit AirAsia X fell more than 11% on Monday after the allegations by Britain’s Serious Fraud Office (SFO) came to light on Friday.
Malaysia’s Securities Commission said on Sunday it would also examine whether AirAsia broke securities laws.