AirAsia’s Tony Fernandes steps aside amid Airbus bribery probe

AirAsia’s chief executive Tony Fernandes has stepped aside from the company while authorities probe unusual payments at the Malaysian carrier, as the fallout from a $4 billion bribery fine at Airbus reverberates across the industry.

The shock decision came after Britain’s Serious Fraud Office (SFO) released details of a probe that found individuals associated with the planemaker had paid to secure deals with AirAsia and its long-haul unit AirAsia X. Fernandes and executive chairman Kamarudin Meranun said in a statement late on Monday, “We are relinquishing our executive roles with immediate effect for a period of two months, or such other period that the companies may deem fit.”