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Air Asia Group CEO Tony Fernandes, one of the world’s most iconic airline entrepreneurs, will step aside from the company for at least two months after reports surfaced he and another top executive may have accepted a bribe from Airbus in exchange for major aircraft orders.
The news comes four days after Airbus entered into deferred prosecution agreements with regulators in the United States, United Kingdom and France over allegations the plane-maker bribed its way into winning orders in many countries. In all, Airbus agreed last week to pay about $4 billion to settle many of the allegations.
Some of the juiciest allegations in the investigation involve Air Asia Group, which Fernandes and business partner Kamarudin Meranun bought in 2001. The duo has been fantastically successful, turning what was once a fledging airline into a regional powerhouse.
According to prosecutors in the United Kingdom, two executives — thought to be Fernandes and Meranun, now the company’s chairman — accepted money from Airbus to sponsor a sports team they owned.
In a statement, Air Asia denied that the sponsorship was linked to any aircraft order.
“The involvement of Airbus in the sponsorship of the sports team was a well-known and widely-publicized matter bringing branding and other benefits to Airbus,” the statement said.
Regulators in Malaysia also have said they are also looking into the matter.
Photo Credit: Air Asia Group CEO Tony Fernandes is stepping down, temporarily, as leader of the company. Air Asia Group
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