Chairman Kamarudin Meranun, too, relinquishes post temporarily over links to bribery scandal.
Airbus
SE and AirAsia,
the discount airline built by Tony Fernandes, were inseparable for
years, with the boisterous aviation executive gorging on ever-larger
aircraft orders to become the manufacturer’s biggest customer for
single-aisle jets.
That
happy marriage ended in acrimony last week after Airbus admitted to
illegally trying to sway plane sales and agreed to a record $4
billion bribery settlement. By Monday, Fernandes stepped away from
the Malaysian airline he bought in 2001 and turned into one of the
best-known brands in Asian aviation.
Fernandes
was one of Airbus’s most loyal customers, a fixture at air shows
where he’d make a splash with huge deals while bucking the stodgy
formalities of traditional business. Among his most memorable moments
was the signing of the European company’s biggest order at the 2014
Farnborough expo, where he exchanged man-hugs with legendary, since
departed sales chief, John Leahy.
Now
a corruption probe that has ricocheted through Airbus
for almost four years, claiming the scalps of many senior staff, is
coming for its airline counterparts. Fernandes will leave his role as
chief executive officer of AirAsia for two months while the
government examines corruption claims, according to a statement
Monday. Chairman Kamarudin Meranun also stepped down, in a sign of
further repercussions from the bribery case.
Fernandes,
55, who is already facing corruption charges in India, and Meranun on
Monday denied allegations of wrongdoing, saying they stood down to
ensure a full and independent investigation. They added in a
newspaper op-ed Tuesday that a Formula 1 sponsorship deal which was
the subject of the Airbus accusations was “a branding exercise”
and not a venture to make money. Malaysia’s anti-graft agency said
Saturday that it was looking into corruption at AirAsia. Airbus,
which admitted to the SFO’s allegations as part of its settlement,
declined to comment.
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