KUALA LUMPUR, March 20 — AirAsia X Berhad has been cleared of the controversy over the sponsorship of a sports team by aircraft manufacturer Airbus SE, as confirmed by an independent expert.
In an announcement to Bursa Malaysia, the details of the independent internal inquiry findings by BDO Governance Advisory Sdn Bhd were summarised and laid out.
“The sponsorship of the sports team by Airbus was disclosed to and supported by the company board at the relevant time. The sponsorship showed demonstrable benefits to the AirAsia Group and was not linked to any purchase decisions by the company,” read the announcement.
It also stated AirAsia X's sponsorship of the sports team was approved in compliance with its procedures, and that co-founders Tan Sri Anthony Francis Fernandes and Datuk Kamarudin Meranun had properly disclosed their interests to the board and abstained from discussions or decisions relating to said sponsorships.
“The company has a robust aircraft procurement process. The process was complied with and the company’s aircraft acquisition was justifiable and at prices favourable to the company,” said the announcement.
BDO, which was appointed on February 11 by AirAsia Group's non-executive independent board committee, handed in the independent internal inquiry's findings report on Monday (March 16) which was subsequently circulated in its final form earlier today.
Earlier this year, AirAsia X and AirAsia were implicated in a bribing scandal where Airbus allegedly paid two company executives up to US$50 million (RM219.16 million) in exchange for purchasing aircrafts.
This came in the form of the sports team sponsorship owned by the executives, said to be the Caterham F1 racing team which was previously owned by Fernandes and Kamarudin. Both have denied all allegations and relinquished their executive roles for two months or a period deemed fit by the company during the period of the probe.
