Shareholder lawsuit against bribery-tainted company execs could hit budget airline’s shares
When is a bribe not a bribe? According to Malaysia’s Prime Minister Mahathir Mohamad, who controversially chose to weigh in on a bribery scandal involving top executives at budget airline AirAsia amid ongoing official probes, a bribe is only a bribe when an inducement is pocketed for personal gain.
“I hear there are allegations that AirAsia is involved in corruption. I am hesitant to comment, but usually, when governments buy equipment, we always ask for an offset,” Mahathir said on February 6. “If the money we obtain does not go into our own pocket, but instead is meant for a certain purpose, then it becomes an offset and this is not bribery. That’s my view,” he said.
The premier’s remarks were widely seen as tacit approval of AirAsia business dealings that British prosecutors at the United Kingdom’s Serious Fraud Office (SFO) have deemed as fraudulent.
Bribery claims involving two still unnamed AirAsia executives came to light late last month after French airplane maker Airbus admitted to paying US$50 million to secure a large aircraft order with the budget carrier.
Nile Bowie is a journalist and correspondent with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.
When is a bribe not a bribe? According to Malaysia’s Prime Minister Mahathir Mohamad, who controversially chose to weigh in on a bribery scandal involving top executives at budget airline AirAsia amid ongoing official probes, a bribe is only a bribe when an inducement is pocketed for personal gain.
“I hear there are allegations that AirAsia is involved in corruption. I am hesitant to comment, but usually, when governments buy equipment, we always ask for an offset,” Mahathir said on February 6. “If the money we obtain does not go into our own pocket, but instead is meant for a certain purpose, then it becomes an offset and this is not bribery. That’s my view,” he said.
The premier’s remarks were widely seen as tacit approval of AirAsia business dealings that British prosecutors at the United Kingdom’s Serious Fraud Office (SFO) have deemed as fraudulent.
Bribery claims involving two still unnamed AirAsia executives came to light late last month after French airplane maker Airbus admitted to paying US$50 million to secure a large aircraft order with the budget carrier.
Read the full story at Asia Times.
