AMID global volatility, AirAsia Group Bhd stocks have pared down its losses in today’s early trading after their co-founders Tan Sri Tony Fernandes and Datuk Kamarudin Meranun were cleared from corruption allegations related to the Airbus scandal.
As at 10.15am, AirAsia Group was four sen lower to 64 sen compared to its earlier loss of 10 sen with 36.93 million shares changing hands.
Meanwhile, AirAsia X Bhd (AAX) was flat at five sen with 3.83 million shares traded.
It was reported that BDO Governance Advisory Sdn Bhd which was hired by AirAsia Group board committee had given the duo the all-clear.
Both had then been reinstated to their posts as group chief executive officer and executive chairman of AirAsia respectively.
In a filing to Bursa Malaysia on Friday, AirAsia and AAX said BDO had on Monday (March 16) presented their report on the findings of the independent internal inquiry.
BDO found that the group has a robust aircraft procurement process and that the acquisition of aircraft was “justifiable and at prices favourable to the company” and that its sponsorship of the sports team by Airbus was disclosed to and supported by the board of directors of AirAsia at the relevant time.
Earlier this year, the budget airline was rocked with scandal after AirAsia and AAX were mentioned in a UK court document, which alleged Airbus SE of bribing two executives of the airlines with some US$50 mil (RM207 mil) in exchange for purchasing Airbus aircraft. – March 23, 2020, Bernama
