More at BloombergAir Asia Group shares fell to the lowest level in six months after India said it’s investigating Chief Executive Officer Tony Fernandes and other officials for allegedly paying bribes to influence local policy.
India’s Central Bureau of Investigation said Tuesday that the budget airline’s executives bribed Indian officials through middlemen to sway government decisions on aviation, including obtaining a flying permit for the local unit and approvals to operate internationally. Emails and calls to Fernandes elicited no response, while a spokeswoman said he isn’t available for an interview.
The stock dropped as much as 6.3 percent to 3.10 ringgit Wednesday, the lowest intraday price since Nov. 29. AirAsia shares were down 6 percent as of 11:08 a.m. in Kuala Lumpur.
Air Asia under investigation for bribery
- Miguelito
- Ordinary Schmo
- Reactions: 219
- Posts: 7053
- Joined: Tue Jan 13, 2015 11:19 pm
- Location: Penh's Hill
Air Asia under investigation for bribery
I know it’s shocking to hear of bribery in this part of world, but apparently India is investigating AirAsia CEO Tony Fernandez, and share prices are falling.
i know it isn't the same type of bribery, but they charge $200 for an extra luggage. if you *talk* to the guy, you can get it lower.
- Miguelito
- Ordinary Schmo
- Reactions: 219
- Posts: 7053
- Joined: Tue Jan 13, 2015 11:19 pm
- Location: Penh's Hill
Uh oh, it's on CNN now.
There's an additional issue now regarding the foreign investment law in India, which allow foreigners to invest 49% into a business, but the management needs to be in India. They are now saying Fernandez was in control, from abroad.
Shares still slipping.
There's an additional issue now regarding the foreign investment law in India, which allow foreigners to invest 49% into a business, but the management needs to be in India. They are now saying Fernandez was in control, from abroad.
Shares still slipping.
Nothing gets done in India without greasing some palms. Somebody in the Indian ministry didn't get their kick-up.
-
- Similar Topics
- Replies
- Views
- Last post
-
- 96 Replies
- 16797 Views
-
Last post by Stokely
Sat Jul 06, 2019 2:04 pm
-
-
Smiles in SE Asia. So much for LOS.
by Lucky Lucan » Tue Aug 22, 2023 11:29 pm » in Cambodia Speakeasy - 11 Replies
- 4035 Views
-
Last post by GB8
Tue Aug 29, 2023 9:04 pm
-
-
- 5 Replies
- 2121 Views
-
Last post by Spigzy
Sun Oct 16, 2022 12:11 pm
-
-
What's up with the Silver Markets in SE Asia?
by kungfufighter » Thu Jul 09, 2020 10:38 pm » in Money, Banking and Insurance - 5 Replies
- 1993 Views
-
Last post by Ot Mean Loi
Fri Jul 10, 2020 4:16 pm
-
-
-
Moving family to Asia
by Guest » Mon Jan 25, 2021 8:07 pm » in Thailand, Vietnam, Myanmar and Lao forums - 12 Replies
- 1851 Views
-
Last post by movingbacktoasia
Fri Feb 05, 2021 7:49 pm
-