AirAsia, Airbus and a Failed F1 Ventu
In a series of email correspondence between an AirAsia Group Bhd executive and a senior Airbus SE employee, one thing that stood out in the relationship between the two major corporations in the aviation industry is this: that the customer is always right.
However, the UK's Serious Fraud Office (SFO) does not think so. Following investigations by the office, Airbus agreed to settle for a penalty of US$4 billion to stop the probe into inappropriate conduct by its employees in securing major contracts from airlines from being escalated.
Nonetheless, the damage is done to Airbus and a string of its customers around the world, including AirAsia.
The SFO had on Jan 31 published a statement of facts in regards to its investigation into the graft case on its website, and in doing so reveals how the AirAsia executive secured sponsorships into his private venture by authorising or sometimes, withholding, aircraft purchases for the airline group from the aircraft manufacturer.
Read full story: theedgemarkets.com
Posted: 8 Feb 2020 13:36:46