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
Signin Sign In
Follow US
Copyright © Travel Radar Media Ltd. 2025 | 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

The Effect of Music on an Airplane
EVA Air Upgrades In-flight WiFi Services this Summer
Hotel Experience in the ‘New Normal’
United Airlines Places Their Largest Order to Date
COVID-19 Sniffer Dogs on Alert at Helsinki Airport
Share This Article
Facebook Twitter Email Copy Link
What’s your thoughts?
Love0
Sad0
Happy0
Angry0
Travel Radar
ByTravel 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
Subscribe
Login
Notify of
guest

guest

1 Comment
Oldest
Newest Upvoted
Inline Feedbacks
View all comments

Stay Connected

FacebookLike
TwitterFollow
InstagramFollow
YoutubeSubscribe

Trending News

A red car driving on a road with the Hollywood sign in the background
Hotels by the Hour in LA : redefining luxury and lifestyle in the heart of the city
Travel Travel Radar
Avelo aircraft N808VL at RDU airport
Avelo Airlines Launches New Membership Programme
Airlines Aviation Points & Loyalty
OX1 Plant © OXCCU
OXCCU Raises £20.75 million to develop Sustainable Aviation Fuel from Waste Carbon
Airline Economics Aviation Manufacturing Technology
A320neo-and-A321neo-in-flight-together
Airbus A320 Overtakes Boeing 737 as Most Popular Aircraft with Record Deliveries
Aircraft Aviation Manufacturing
British AIrways Boeing 787 Dreamliner in flight
British Airways to Boost Connectivity between India and the UK
Airline Economics Airlines Aviation Route Development
//

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

  • Latest News
  • Subscribe
  • Weekly Digest
  • Contact Us
  • Privacy Policy
  • About Us
  • Advertising
  • Media Coverage
  • Press & Events
  • Join Our Team
  • Our Brands

Signup to our Newsletter!

And get the latest aviation news via our weekly news digest!

© Travel Radar Media Ltd. 2015-2025 | ISSN #2635-0696 | Trademark #UK00003579704
wpDiscuz
adbanner
Welcome to the TR Community!

Sign in to your account

Not a member? Sign Up