AirAsia, AirAsia X shares drop on allegations of corruption, bribery

KUALA LUMPUR (BERNAMA) – Shares of AirAsia Group Bhd and AirAsia X Bhd on Bursa Malaysia dropped in active trade after reports alleging executives of both companies of corruption and bribery.

As at 10.01 am yesterday, AirAsia Group’s lost 13 cents or 9.09 per cent lower at RM1.30 with 20.95 million shares changed hands, while AirAsia X dipped one cent or 7.69 per cent to 12 cents with 18.11 million shares transacted.

Securities Commission (SC) in a statement yesterday said it will examine the statement of facts in the case of Regina vs Airbus SE which disclosed several allegations against both companies.

AirAsia in a statement released last Saturday denied the allegations, saying it was neither involved in any way whatsoever with the United Kingdom (UK) Serious Fraud Office (SFO) investigation of European aircraft maker, Airbus nor was given any opportunity to provide any information or clarification to the SFO.

It was referring to an article entitled “AirAsia directors/staff got RM240 mil bribe from Airbus, court docs say” in several media regarding the “Deferred Prosecution Agreement” entered into by Airbus SE and the SFO on Jan 31, 2020.

The articles alleged that certain agreements by AirAsia to order Airbus’ aircraft were improperly linked to sponsorship by the aircraft maker of a sports team jointly owned by AirAsia executives.

In an immediate response, the Malaysian Anti Corruption Commission (MACC) has also initiated an investigation into allegations against both companies by contacting authorities in the UK.

AirAsia Group Bhd and AirAsia X Bhd shares dropped in active trade after reports alleging executives of both companies of corruption and bribery. PHOTO: BERNAMA