Receiving money to "offset" buying planes and equipment did not necessarily constitute bribery, Malaysia's Prime Minister said Thursday, days after AirAsia boss Tony Fernandes stepped aside temporarily in the wake of a US$4 billion Airbus graft scandal.AirAsia founder and CEO Fernandes and company executive Chairman Kamarudin Meranun deny allegations of misconduct, but have stepped aside after Airbus last week settled a court case in Europe which alleged the planemaker paid bri
Two AirAsia chiefs will step aside for at least two months as authorities and the airline look into claims that aerospace giant Airbus paid the company US$50 million to secure a plane order.Airbus said last week it had agreed to set aside up to EUR3.6 billion to settle a corruption probe by authorities in France, Britain and the United States.As news of the probe widened, the Malaysia-based AirAsia was named in a bribery investigation by Britain's Serious Fraud Office (SFO), allegedly im
In 2001, entrepreneur Tony Fernandes bought a debt-ridden airline company for only one Malaysian ringgit (0.26 dollar). Sixteen years later, from a staggering debt of 40 million Malaysian ringgit (11 mililon dollars), AirAsia has grown tremendously to reach a market cap of 11.6 billion dollars. From a single route between Langkawi and Kuala Lumpur, the low-cost carrier now flies to more than 165 destinations spanning 25 countries.