Were AirAsia aircraft order agreements improperly linked to sports sponsorship?

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AirAsia Denies Improper Link Between Aircraft Orders and Sports Sponsorship

AirAsia has vehemently denied allegations that its agreements to order Airbus aircraft were improperly linked to sponsorship of a sports team jointly owned by AirAsia executives. The airline stated it was not involved in the UK Serious Fraud Office's (SFO) investigation into Airbus and was not given an opportunity to provide information to the SFO. The Securities Commission (SC) Malaysia will review the allegations to determine if any securities laws were breached.
Allegations Regarding Airbus Sponsorship

Court documents related to a Deferred Prosecution Agreement between Airbus SE and the SFO, entered into on January 31, 2020, have surfaced with allegations concerning AirAsia Group Bhd and AirAsia X Bhd. These documents reportedly suggest that specific agreements for AirAsia to purchase Airbus aircraft were tied to sponsorship by Airbus of a sports team co-owned by individuals associated with AirAsia's executive management.
AirAsia's Position on the Allegations

In response to these reports, AirAsia has issued a strong denial, asserting that it rejects and denies any and all allegations of wrongdoing. The company further clarified its position regarding the SFO investigation, stating that AirAsia has had no involvement whatsoever with the SFO's inquiry into Airbus and has not been approached to offer any details or clarifications.
Securities Commission Malaysia's Review

Datuk Syed Zaid Syed Jaafar Albar, chairman of the Securities Commission Malaysia, confirmed that the commission will thoroughly examine the statement of facts presented in the Regina vs Airbus SE case. Given that AirAsia Group Bhd and AirAsia X Bhd are listed on Bursa Malaysia, the SC will review all available evidence to ascertain whether any breaches of Malaysian securities laws have occurred.
Potential Legal Ramifications Under Malaysian Law

The SC chairman highlighted Section 317A of the Capital Markets & Services Act 2007. This section stipulates that a director of a public listed company (PLC) who engages in any action with the intent to cause wrongful loss to the PLC or its related corporation commits an offence. Such an offence is punishable by imprisonment and a fine.

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Were AirAsia aircraft order agreements improperly linked to sports sponsorship?

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