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AirAsia CEO Tony Fernandes and chairman quit over Airbus bribery scandal
Two AirAsia chiefs will step aside for at least two months as authorities and the airline look into claims that aerospace giant Airbus paid the company USD 50 million to secure a plane order. Airbus said last week it had agreed to set aside up to EUR 3.6 billion (USD 3.98 billion) to settle a corruption probe by authorities in France, Britain and the US. As news of the probe widened, the Malaysia-based AirAsia was named in a bribery investigation by Britain's Serious Fraud Office (SFO), allegedly implicating two company executives. In a late Monday filing on Malaysia's stock market, the budget carrier said its chief executive Tony Fernandes and executive chairman Kamarudin Meranun would leave their positions immediately. Both men were to stand down ‘for a period of two months or such other period that the company may deem fit’, the airline said. The airline’s board formed a committee to review the allegations, stating that Kamarudin and Fernandes would be kept as company advisors and redesignated as non-independent non-executive board members. A court document on the SFO's website said EADS France SAS -- which was later renamed as Airbus Group SAS -- paid USD 50 million as sponsorship for a sports team owned by two unnamed AirAsia executives. Identified as ‘key decision makers’ in AirAsia and AirAsia X - the company's long-haul arm - they were allegedly rewarded with the order of 180 aircraft from Airbus. “The payments to the sports team were intended to secure or reward improper favour by them in respect of that business,” the document said. Both Kamarudin and Fernandes denied any wrongdoing and said in a Monday joint statement that they ‘would not harm the very companies that we spent our entire lives building up to their present global status.’
Indian CBI sets date for Tony Fernandes questioning
AirAsia CEO Tony Fernandes Following raids on AirAsia’s India offices in Mumbai on 29 May, investigating allegations of corruption and bribery, India’s Central Bureau of Investigation has summoned CEO Tony Fernandes for questioning on 6 June, according to an article in the Financial Express The CBI case, also against AirAsia India’s non-executive director R Venkataramanan and CEO of operations Bo Lingam, concerns accusations that the flamboyant CEO is guilty of violating Indian direct investment laws and alleged bribery of government officials to ease legislation and provide a license to operate within the country. The article also states “A total of 14 people, including some former and current employees of AirAsia, have been named in the charge sheet. This includes the airline’s former CEO Mittu Chandilya, his secretary, and the current and the former CFO of the airline, Deepak Mahendra and Vijay Gopalan.” Commenting on its investigations the CBI said the airline and its CEO “chose to beat the legal frameworks and policies of the aviation sector of India” and improperly courted government administrators “to secure mandatory approvals, some of them through non-transparent means”. AirAsia India has said in an official statement that it denies all charges and that will work with officials agencies “to present the correct facts”. https://twitter.com/tonyfernandes/status/1001619038630379521 However, the airline's stance on the matter has been undermined by Fernandes' apparently unconnected comments via his Twitter account, where he declared: “Sometimes wonder about certain media. Who just wrote anything without checking any facts. Seriously wild stuff which are just plain wrong and inaccurate.” My own requests to AirAsia India for comment on the situation have so far been met with silence. It has been four years since the AirAsia first entered the Indian domestic market with a view to quickly establish its international services in the country. However these plans were hindered by aviation laws stating an airline must operate on a domestic basis for at least five years – with a minimum fleet size of 20 planes) before scaling up to international services. Subsequently, in 2017, the five year probation period has been removed, but it is these rules which are at the heart of the charges. With the CBI believing the airline and its leadership sought to operate as an international carrier from the moment it began to operating in India. Another eye catching name in the case is R Venkataramanan, who, in addition to his role for the airline, is the managing trustee of the Sir Dorabji Tata Trust an organisation responsible for AirAsia’s majority owners Tata Group. "I have been wrongly named as an accused" Commenting on his involvement in the scandal Venkataramanan said: “In my capacity as non-executive director of AirAsia India Limited, I have been wrongly named as an accused by the CBI on operational matters where I had little or no role to play.” Additional reporting by Bloomberg and Associated Press
WTA Grand Final 2017: The “world’s true low-cost champion” according to Tony Fernandes
AirAsia has been named the for the fifth year in a row at the 2017 World Travel Awards (WTA) Grand Final.World’s Leading Low-Cost Airline The ariline emerged top in the category having received the highest votes from travel professionals and industry players from around the world, beating Southwest Airlines, JetBlue, Ryanair, easyJet, Jetstar Airways, Norwegian Air, West Air, flydubai, Air Arabia, flynas, kulula, Mango and fastjet. Asia’s largest low-cost carrier by passengers also won the inaugural award, ahead of the same 13 budget airlines. The win builds on AirAsia's success earlier this year when it secured WTA’s first ever Asia's Leading Low-Cost Airline Cabin Crew award and in 2015, when it became the first ever low-cost carrier to win Asia's Leading Cabin Crew, ahead of full-service carriers like Singapore Airlines, Korean Air and Cathay Pacific.World's Leading Low-Cost Airline Cabin Crew AirAsia Group Chief Commercial Officer Siegtraund Teh and AirAsia senior cabin crew Rosita Sulaiman accepted the awards at a gala ceremony held at the JW Marriott Phu Quoc Emerald Bay in Vietnam yesterday. Also present were AirAsia Berhad executive chairman Datuk Kamarudin Meranun, AirAsia Group CEO Tan Sri Tony Fernandes, AirAsia Berhad independent non-executive director Dato' Fam Lee Ee and AirAsia's Vietnam joint venture partner Tran Trong Kien. AirAsia Group CEO Tan Sri Tony Fernandes (above) said, “I am very proud to stand here today to receive our fifth WTA World’s Leading Low-Cost Airline award in as many years. I’ve always said we are the world’s true low-cost champion, and I’m thrilled to see I’m not the only one and the industry agrees with me. And we will only get better as we continue on our digitalisation journey to better understand what our guests want and to make flying a richer, more enjoyable experience, as we continue to strive to provide world-class service at the lowest fares.”
Tony Fernandes “AirAsia is poised to become an important part of how people fly in Japan”
AirAsia Japan, the Japanese affiliate of the world’s best low-cost carrier, is back in business with its maiden service from AirAsia Japan’s main hub in Nagoya to Sapporo – the capital of northern Hokkaido prefecture. The twice-daily service will commence on 29 October 2017. Group CEO Tony Fernandes (pictured above) said, “It’s great to be back in Japan. It hasn't been easy, and I want to thank my partners Rakuten, Octave, Noevir and Alpen for their support and patience. Many people thought we would give up and not bother but we owe it to the people of Japan and our staff to keep going. This took a long time but, like good wine, all good things take time and we are off the taxiway and ready to take off. “Japan is a fantastic market with amazing people, culture and food, but one that has been underserved in the budget segment for too long. I believe Japan is ready for a true low-cost experience, and AirAsia will be at the forefront of that revolution, starting with today’s route launch. With new partners who share our vision, I have no doubt that AirAsia is poised to become an important part of how people fly in Japan.”
Cambodian uni opens “Tony Fernandes School of Business”
The University of Cambodia has named its business school after AirAsia's group CEO, Tony Fernandes. The university unveiled the "Tony Fernandes School of Business" and its accompanying logo this week, along with a lecture hall within the school which is named after AirAsia. Fernandes had earlier been conferred an Honorary Doctorate in Management by the university for his work in developing air travel in the ASEAN region. "What an amazing honour to be recognised by the University of Cambodia. I'm not sure I deserve to have a school named after me but I hope the students here will be inspired by what they can achieve if they believe the unbelievable, dream the impossible and never take no for an answer," said Fernandes. This week AirAsia announced plans to launch flights Sihanoukville, its third destination in Cambodia.
Should we Expect Mandatory Vaccinations for Travel to Asia?
Air Asia’s Tony Fernandes expects countries in Asia to demand Covid-19 vaccinations as a requirement for inbound travel. Speaking at a CAPA – Centre for Aviation event, the budget carrier’s chief said these conditions are expected to become a trend across the region. Fernandes’ comments contrast with earlier remarks by Qantas CEO Alan Joyce, who said Covid-19 vaccinations will be a requirement to board the Australian carrier’s international flights. The Air Asia CEO argues the onus should instead lie with countries. “It’s not up to the airlines to decide. It is for governments to decide. It’ll be the country that will decide if they will allow people to come in if they are not vaccinated,” said Fernandes. While vaccines are pending a wider rollout, airlines have been advocating for pre-flight testing and travel bubbles as an alternative to demand-sapping quarantines. Additionally, carriers including Air Asia have unveiled digital passes to streamline health document checks and determine eligibility to travel into a foreign country. The International Air Transport Association (IATA) is also in the final stages of developing an industry-standard health pass to support the safe reopening of borders. Vaccination rollout is beginning in many countries, like the UK, the US, China, Russia, and others, therefore it is normal to expect airlines or governments to ask for vaccination in order to be travelling internationally and considering the recent developments with apps and other tools to track testing and vaccination I think that is the way it will be when boarders around the world fully re-open.
Malayan High Court confirms Capital A share reduction
Capital A Berhad reached another milestone on Friday, 21st March, as the High Court of Malaya confirmed its issued share capital reduction and repayment under Section 116 of the Companies Act 2016 as part of the Proposed Distribution. The exact amount of the issued share capital reduction required to facilitate the Proposed Distribution will be determined based on the prevailing market price of AirAsia X (AAX) shares at the time of Capital A’s application to the High Court after the Entitlement Date. Capital chief executiveTony Fernandes said: “This is another significant step forward in our transformation journey. The confirmation from the High Court provides us with the clarity we need to move ahead with the Proposed Distribution and other key initiatives. We are fully committed to ensuring a seamless transition for all stakeholders as we continue to reshape Capital A into a leaner, more focused travel and digital business. We appreciate the patience and support from our shareholders, partners and regulators as we work through this process.” While this confirmation represents a significant step forward, the Proposals, which include the Proposed AAAGL Disposal, Proposed AAB Disposal, and Proposed Distribution, remain subject to the fulfillment and/or waiver of certain conditions precedent under the Share Sale and Purchase Agreements (SSPAs). The Entitlement Date for the Proposed Distribution will be determined and announced by the Company once all conditions precedent have been satisfied and / or waived.
Bursa Securities approves Capital A’s proposed regularisation plan
AirAsia’s parent firm Capital A Berhad marked a new milestone in its financial transformation journey with the approval of its Proposed Regularisation Plan by Bursa Malaysia Securities Berhad. This marks a significant step toward the company’s exit from Practice Note 17 (PN17) status, setting the stage for a stronger and more sustainable future. The approval from Bursa Securities, granted via an official letter dated Friday, 7th March, provides a clear path for Capital A to complete its restructuring and restore its financial standing. Thanks to this go-signal, Capital A is now poised to finalise the implementation of its plan, including capital reduction to set off accumulated losses and the reorganisation of its business units to unlock long-term value for shareholders. On the threshold Capital A chief executive Tony Fernandes lauded the Bursa Securities approval, declaring that this is a monumental day for the company. Fernandes said: “After an extensive restructuring process, we now stand at the threshold of exiting PN17 status. Our journey has been focused on rebuilding our financial foundation, and with today's announcement, we take a giant leap toward a future of financial strength and operational excellence.” He added that this is not just about numbers or regulatory approvals, but more about resilience and proving that the company can bounce back stronger than before. The Proposed Regularisation Plan is structured to ensure compliance with Bursa Securities’ listing requirements and includes a series of financial and structural adjustments designed to stabilise and grow Capital A’s business. It should be noted, however, that the approval is subject to the fulfillment of certain conditions, including compliance with all regulatory requirements, obtaining necessary shareholder approvals, and submitting final confirmation of the plan’s completion. Capital A’s chief financial officer Mun Hui Teh added: "Securing the Bursa approval is a testament to the hard work, relentless dedication, and strategic direction of Capital A. I want to extend my deepest gratitude to Tony and the entire leadership team for their trust, guidance, and unwavering belief in this vision. This plan will enable us to clean up our balance sheet, realign our core businesses, and ultimately exit PN17 status. We are closer than ever to achieving our goal, and we can’t wait for the exciting future ahead to unfold.” What happens next? Following the completion of the Proposed Regularisation Plan, Capital A will be in a stronger position to execute its long-term vision. The company remains committed to growing its six core businesses: Asia Digital Engineering (ADE), Teleport (Logistics), AirAsia MOVE, Santan, BigPay and Abc. International. This milestone reflects Capital A’s transformation from a financially distressed company into a group with agile, technology-driven businesses that are ready to capitalise on new opportunities in aviation, engineering, logistics, digital travel, and brand management.
AirAsia Philippines amps style quotient with American Tourister
AirAsia Philippines makes the first-ever brand licensing partnership between AirAsia brand co. (Abc), the brand management and IP development arm of Capital and American Tourister, a global luggage and lifestyle brand. This partnership is a game-changer for travellers to embark on more adventures while making bold style statements with premium, functional travel gear. Beyond enhancing travel aesthetics, the collaboration boosts AirAsia’s presence in the travel community, reinforcing its commitment to making travel accessible and comfortable which makes a real lifestyle upgrade. “I’m incredibly proud to see the launch of AirAsia’s first-ever licensing deal — a brand that has been built over the past 23 years to stand for value, accessibility, and inclusivity, and is deeply loved by millions of travellers. This partnership with American Tourister marks a significant step in unlocking new growth opportunities beyond aviation, while demonstrating the power of strategic brand collaborations in expanding our reach and building brand loyalty. At its core, Abc. is about monetising the strength of a brand we’ve spent decades building. This collaboration exemplifies how strategic licensing can bring the AirAsia spirit to life in new ways, keeping us connected to people wherever their journeys take them." Capital A CEO Tony Fernandes said. Featuring the AirAsia brand, the FunSeeker Collection unites two iconic names in travel and adventure by offering stylish, durable, and vibrant luggage and accessories that cater to the dynamic tastes of Gen Z and Millennials, now available in the Philippines. The FunSeeker Collection embodies the adventurous spirit of AirAsia with its signature bold colors and design elements, including bag straps inspired by AirAsia’s iconic red seat belts, reflecting a shared passion for travel and innovation. "We are proud to team up with American Tourister to introduce a product designed for all communities and generations to ensure everyone can explore the world with confidence and ease. At AirAsia, we always put a premium on inclusive air travel. We believe travel should be accessible to everyone, regardless of background or status. The launch of the FunSeeker Collection is a step forward in our mission to make travel an inclusive experience, offering stylish, functional luggage that lets every traveler express their individuality and adventurous spirit. ” Ricky Isla, CEO of AirAsia Philippines.
AirAsia announces plan to establish an aircraft maintenance facility in the Philippines
The Philippine Department of Finance announced that AirAsia plans to establish a maintenance, repair, and operations (MRO) facility in the country. Finance secretary Ralph G Recto recently met with Capital A chief executive and AirAsia founder Tony Fernandes to discuss the matter whilst both were at the recently-concluded World Economic Forum in Davos, Switzerland. Should AirAsia push through with its plan, the upcoming MRO facility is expected to create more jobs and position the Philippines as a regional hub for aviation services. What’s in it for AirAsia? On the other hand, putting such a facility in the Philippines would enable AirAsia to meet its need for better aircraft availability. This is a considerable advantage, given the aftermath of the global aviation supply chain issue which led to a lack of spare parts and insubstantial maintenance. Through AirAsia’s proposed MRO hub, the potential of flight cancellation or suspension due to aircraft issues may be significantly reduced.
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