AirAsia's Fernandes denies Airbus bribe involving his former F1 team [Reuters]
AIRBUS SE UNSP/ADR (EADSY)
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Source: Reuters
AirAsia's Fernandes denies Airbus bribe involving his former F1 team KUALA LUMPUR (Reuters) - AirAsia Group Bhd’s ( AIRA.KL ) Tony Fernandes on Tuesday denied a now-defunct Formula 1 racing team formerly co-owned by him had any links to a bribery scandal involving the Malaysian airline’s only plane supplier, Airbus SE ( AIR.PA ). Fernandes, one of the aviation industry’s best-known faces, on Monday stepped aside as chief executive of Asia’s biggest budget airline for at least two months, as authorities investigate allegations that Airbus paid a bribe of $50 million through sponsorship of the Caterham F1 team to win orders from AirAsia. AirAsia Chairman Kamarudin Meranun also stepped down along with Fernandes, though both will remain advisers. The AirAsia co-founders, who bought Caterham in 2011, issued a joint statement on Tuesday reiterating that they did nothing wrong. “Caterham F1, the company alleged to have been sponsored improperly by Airbus, was at the relevant time a Formu
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