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Airbus Agrees to $4 bn Settlement to End Bribery Probe

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After all this finger pointing and insinuations, can we reasonably conclude then that this seemingly 'exclusive' AAG/Airbus relationship is fast unraveling ?

And if so, how much, if any, of the current purchase commitments already in place will be affected 😑

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10 hours ago, BC Tam said:

After all this finger pointing and insinuations, can we reasonably conclude then that this seemingly 'exclusive' AAG/Airbus relationship is fast unraveling ?

And if so, how much, if any, of the current purchase commitments already in place will be affected 😑

Unlikely aircraft orders to be affected. More likely the executives will be in a long court case and theyll go free with a fine and thats about it. Thats how most of the corporate world runs.

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For those who are interested to read the entire proceedings:

REGINA -vs- AIRBUS SE STATEMENT OF FACTS PREPARED PURSUANT TO PARAGRAPH 5(1) OF SCHEDULE 17 TO THE CRIME AND COURTS ACT 2013 www.tisrilanka.org/wp-content/uploads/2020/01/R-v-Airbus-Statement-of-Facts.pdf

Director of the Serious Fraud Office  - and - Airbus SE https://www.judiciary.uk/wp-content/uploads/2020/01/Director-of-the-Serious-Fraud-Office-v-Airbus-SE-1.pdf

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2 hours ago, Kenny Sing said:

later AAGB follow the foot step of khazanah issue lawyer letter to focus malaysia.  😂

Hahahaha, well, AAGB's case document is available at public domain, Khazanah Nasional's are P & C, only certain individuals have access to them. I assume some heads have rolled for latter case.

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1 hour ago, JuliusWong said:

Hahahaha, well, AAGB's case document is available at public domain, Khazanah Nasional's are P & C, only certain individuals have access to them. I assume some heads have rolled for latter case.

typical reaction for so called P&C information getting leaked.

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On 2/12/2020 at 10:34 PM, jahur said:

Email content leak between airbus and aagb. It doesnt look like an offset. 😂

https://focusmalaysia.my/mainstream/those-emails-between-airasia-executives-and-airbus/

 

When side payments only benefit the private interests of only the significant shareholders of AAB, AAX - then minority shareholders of AAB and AAX were screwed.

It would have been above board if the Caterham F1 setup is legally part of the AAB and AAX group. Now that could have been a legit offset.

 

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3 hours ago, Mushrif A said:

When side payments only benefit the private interests of only the significant shareholders of AAB, AAX - then minority shareholders of AAB and AAX were screwed.

It would have been above board if the Caterham F1 setup is legally part of the AAB and AAX group. Now that could have been a legit offset.

At every AGM, they always ask shareholders to pass a resolution pertaining to "related party transactions" as AAG and AAX have so many intercompany transactions with other Tune Group and companies that TF and KM are involved in.  I think we will need to go back to those resolutions to check if the Caterham sponsorship deal is included in them. Interesting...

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Tony on LinkedIn:

Been off LinkedIn for a while, since Jan 30th when I got a shocking piece of news. Being let down by a partner that you felt was family hurt a lot. But that’s for another time . Sponsorship was always about building a great brand and no one can deny Airasia has built a great brand

Is he talking about Airbus?

 

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2 hours ago, jani said:

Tony on LinkedIn:

Been off LinkedIn for a while, since Jan 30th when I got a shocking piece of news. Being let down by a partner that you felt was family hurt a lot. But that’s for another time . Sponsorship was always about building a great brand and no one can deny Airasia has built a great brand

Is he talking about Airbus?

 

Could most probably be, but what can Airbus do since Airbus was under investigation. The investigators would have asked Airbus to produce all emails correspondence for transaction for past ten-twenty years, there is no escape for AirAsia........Maybe one of their founders/BoD....would be very surprised if it is the other half.

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IIRC, it was Airbus who reported themselves to the authorities - that was why the previous top management have all departed. The current Airbus management are not the ones involved in those sponsorship deals.

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AirAsia Explores Options for Long-Haul Unit

  • Options include seeking an investor to improve finances
  • Unit could seek state help or integrate with rest of AirAsia

Malaysia’s AirAsia Group Bhd. is weighing options for its long-haul unit AirAsia X Bhd. including introducing a financial investor to help shore up the unit’s finances, according to people familiar with the matter.

More information here: https://www.bloomberg.com/news/articles/2020-03-26/airasia-is-said-to-explore-options-for-long-haul-unit-airasia-x

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I think Airasia X is best off being integrated with Airasia Group - but the shape and form of this integration can be very complex and may not be a complete merger. The important thing it needs to do is strengthen its very weak balance sheet. 

They will need to raise additional capital through all means available. Although it has not received government bailouts like Malaysia Airlines in its history, the Covid-19 crisis may see them asking for some help from the government.

I don't think Airasia Group wants to close it down because it remains a strategic part of the Group's strategy and operations.

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