Tue. Feb 25th, 2020


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AirAsia’s Fernandes, Kamarudin step down from executive roles amid probe over Airbus bribery

4 min read

AirAsia Team Bhd (AAGB) main executive officer Tan Sri Tony Fernandes and executive chairman Datuk Kamarudin Meranun have relinquished their executive positions with quick influence for two months next allegations that the airline gained a US$50 million bribe from aircraft maker Airbus, Malaysia’s countrywide news agency Bernama noted.

The company educated Bursa Malaysia (Malaysia Inventory Exchange) that a non-executive impartial board committee fashioned by AAGB’s board of administrators has made the decision to retain Fernandes and Kamarudin as advisors to throughout the two-thirty day period interval. It cited “the recent tricky economic situations struggling with the airline industry” for this final decision.

The committee comprises the non-executive
associates of the board.

The company has appointed Tharumalingam Kanagalingam as the performing CEO of AAGB in the interim on the suggestion of the committee.

Kamarudin and Fernandes would be redesignated as non-impartial non-executive board associates of AAGB.  

In a different statement, each Kamarudin and
Fernandes categorically denied any and all allegations of wrongdoing or
misconduct on their component as administrators of AirAsia.

They stated the Airbus’ deferred prosecution agreement and the contents were being arrived at devoid of any reference to them.

“Neither were being any explanations sought from
us. This is in apparent violation of elementary legal principles of fairness. We
would not hurt the incredibly businesses that we put in our overall life making up to
their existing world wide status.

“So, as to facilitate a complete and impartial investigation by AirAsia, we are relinquishing our executive roles with quick influence for a interval of two months, or this kind of other interval that the businesses may perhaps deem in good shape,” they stated.

Kamarudin and Fernandes stated they would nevertheless go on to help AirAsia in an advisory capacity as and when necessary and welcome any investigations by the authorities.

“Will increase our fullest cooperation,” they included.

Fernandes (left) and Kamarudin categorically denied any and all allegations of wrongdoing or misconduct on their component as administrators of AirAsia. (Illustrations or photos credit score: AirAsia)

The Securities Commission Malaysia (SC) had stated that it would take a look at the statement of specifics in the case of Regina vs Airbus SE, which disclosed several allegations in opposition to each businesses.

AirAsia, in a statement released on 1 February, denied the allegations, stating it was neither included in any way in any way with the British isles Severe Fraud Office’s (SFO) investigation of European aircraft maker Airbus, nor was offered an option to give any info or clarification to the SFO.

“The entering into of each and every aircraft
purchase agreement was in no way manufactured by any one particular person final decision, but
as an alternative arrived at through thorough analysis, deliberation and the collective
final decision of the board associates right after getting into account technical
requirements, aircraft flight performance and functioning economics.

“The superiority and dependability of
the aircraft and significantly desirable pricing getting supplied to maintain our
aggressive edge in the airline small business were being critical things to consider. As a consumer
of Airbus due to the fact 2005, AirAsia in no way manufactured purchase choices that were being premised
on an Airbus sponsorship,” it stated.

It was referring to an short article entitled “AirAsia administrators/employees received RM240mil bribe from Airbus, court docket docs say” on the focusmalaysia.my internet site, as well as other articles or blog posts in the press regarding the “Deferred Prosecution Agreement” entered into by Airbus SE and the SFO on 31 January 2020.

The articles or blog posts alleged that specific agreements by AirAsia to purchase Airbus aircraft were being improperly linked to sponsorship by Airbus of a sports activities staff jointly owned by AirAsia executives. AirAsia vigorously rejects and denies any and all allegations of wrongdoing. (Browse AirAsia’s complete statement in this article).

In an quick reaction, the Malaysian Anti Corruption Commission (MACC) has also initiated an investigation into allegations in opposition to each businesses by contracting authorities in the United Kingdom.

In the meantime, the Malaysian Aviation Commission (Mavcom) stated in a statement it would examine AirAsia and AirAsia X for doable violation of aviation regulations.

The two airlines, which had been issued air
company licences, were being topic to the Malaysian Aviation Commission Act 2015
and the commission’s guidelines, it included.

“The allegations touch on the jurisdictions of a number of organizations in Malaysia and hence, the commission will cooperate and work with all suitable authorities on this subject.”

Showcased impression credit score (AirAsia’s Airbus A320 Neo aircraft): AirAsia

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