“We categorically deny all allegations of wrongdoing or misconduct on our part as executives and directors of AirAsia,” they added. They noted that Caterham F1, the company alleged to have been sponsored improperly by European planemaker Airbus, was at the relevant time a Formula 1 Racing team that had gone round the globe promoting amongst others AirAsia, AirAsia X, GE and Airbus. “At the request of the board of AirAsia, we have agreed to continue to assist AirAsia in an advisory capacity as and when required,” Kamarudin and Fernandes said. In return for a suspension of prosecution by the SFO, Airbus has agreed to pay a significant fine and costs to the SFO and also agreed to a statement of facts that appears to implicate executives of AirAsia. See also:We wouldn't harm the companies we spent our lives to build, say AirAsia's Fernandes and KamaruddinFernandes, Kamarudin relinquish executive roles in AirAsia amid corruption probeSC to review US$50m graft claims against executives at AirAsia, AirAsia XAirAsia denies bribery allegationsAirbus allegedly bribed AirAsia, AirAsia X RM205m in sports team sponsorship to secure deals

Source: The Edge Markets February 04, 2020 03:54 UTC