By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Travel Radar - Aviation NewsTravel Radar - Aviation News
  • Breaking News
  • Aviation
    • Aircraft
    • Airlines
    • Airshow & Events
    • Careers
    • Manufacturing
  • Travel
    • Airports
    • Points & Loyalty
    • Technology
    • Trip Reviews
  • Newsletters
Reading: Air Asia Refutes Bribery Allegations
Share
Sign In
Notification Show More
Font ResizerAa
Font ResizerAa
Travel Radar - Aviation NewsTravel Radar - Aviation News
  • Breaking News
  • Aviation
    • Aircraft
    • Airlines
    • Airshow & Events
    • Careers
    • Manufacturing
  • Travel
    • Airports
    • Points & Loyalty
    • Technology
    • Trip Reviews
  • Newsletters
Have an existing account? Sign In
Follow US
Copyright © Travel Radar Media Ltd. 2024 | All Rights Reserved
Travel Radar - Aviation News > News > Air Asia Refutes Bribery Allegations

Air Asia Refutes Bribery Allegations

Travel Radar
Last updated: 3 February 2020 13:05
By Travel Radar Staff 2 Min Read
Share
Air Asia © Edgar Su-Reuters
SHARE
  • Share prices of AirAsia/AirAsia X plummet in Monday trade
  • Allegations involve sponsorship of sports team
  • Investigations by Malaysian authorities come as consequence of Airbus settlement with UK, France & US authorities
  • Similar allegations involving Sir Lankan Airlines

The share price of the Malaysian AirAsia Group and its affiliate AirAsia X fell drastically today, Monday after allegations by the British Serious Fraud Office that Airbus paid a bribe of $50 million to secure orders from the budget airline group.

The share prices fell by 11% for AirAsia to their lowest since May 2016, while those for AirAsia X plummeted by 12% to an all-time low.

© msn.com

The allegations of taking bribes—which AirAsia strenuously denies—come as Airbus agrees a settlement with French, British and American authorities of $4 billion after a four year investigation. The Malaysian Anti-Corruption Commission is investigating the allegations as well as also whether the group broke securities law. Airbus would not comment on the investigations.

The issues with AirAsia and AirAsia x come at a particularly difficult time for Asian carriers as they struggle to cope with the decline in traffic due to the coronavirus outbreak in China.

© hksar.org

The allegations involve improper payments paid to directors or employees of the airline as sponsorship for a sports team over a period at some point between October 2005 and November 2014 during which the airline acquired 135 aircraft.

In other developments, a similar allegation is being investigated by Sri Lankan authorities in that Airbus had engaged the wife of a Sri Lankan Airlines executive as an intermediary and paid $2 million to her company between July 2011 and June 2015.

You Might Also Like

Qatar Airways Retains ‘Airline of the Year’ Title for a Record Ninth Time

From the stratosphere to the Boneyard : Journey of an aeroplane

Emirates returns to the Airshow After 15 Years Showcasing A350

Boeing Shares Plunge After Deadly 787 Plane Crash in Ahmedabad

Ethiopian Airlines Enhances Domestic Network with New Twin Otter 300-G Aircraft

Share This Article
Facebook Twitter Email Copy Link
What’s your thoughts?
Love0
Sad0
Happy0
Angry0
Travel Radar
By Travel Radar Staff
Follow:
Articles from guest contributors wishing to remain anonymous are credited to this account. Want to contribute to Travel Radar either in-name, or anonymously? Get in touch: [email protected]
Previous Article Coronavirus; What Effect on Airlines?
Next Article Flight returns to Madrid after landing gear ruptures, entering engine
1 Comment
Subscribe
Login
Notify of
guest
guest
1 Comment
Oldest
Newest Upvoted
Inline Feedbacks
View all comments

Stay Connected

FacebookLike
TwitterFollow
InstagramFollow
YoutubeSubscribe

Trending News

Service to begin with Heathrow Airport
EU Cabin Bag Rule Backlash: IATA Warns Free Carry-On Mandate Will Raise Airfare and Cause Chaos
Aircraft Airlines Aviation Travel
Plane departing Corfu Airport, Greece.
Rising Sea Levels: Impact on Coastal Airports and Aviation
Airports Aviation Travel
Plaza Premium Lounge Johor Bahru
Plaza Premium Group Opens New Lounge at Senai International Airport
Airports Aviation Travel
STARLUX Airlines' aircraft
STARLUX Expands Long Haul Fleet with Order of Ten A350-1000s
Aircraft Airlines Aviation
Boeing 737 factory in Renton. NTSB issues urgent safety warning over engines powering Boeing 737 Max aircraft
US Transport Safety Board issues safety warning over engines powering certain Boeing, Airbus aircraft
Aircraft Aviation Incidents & Accidents Manufacturing
//

Travel Radar is the leading digital hub for all things aviation and air-travel. Discover our latest aviation news, aviation data, insight and analysis.

Discover

  • About Us
  • Contact Us
  • Careers
  • Press & PR
  • Privacy & Legal

Our Content

  • News
  • Data
  • Images
  • Jobs
  • Subscribe

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Click here to Signup!

© Travel Radar Media Ltd. 2015-2025 | ISSN #2635-0696 | Trademark #UK00003579704
wpDiscuz
adbanner
AdBlock Detected
Ads help us bring you high-quality, independent journalism for free. Support us by whitelisting us from your ad blocker.
Okay, I'll Whitelist
Welcome to the TR Community!

Sign in to your account

Register Lost your password?