Shares of budget airline AirAsia Group and its long-haul subsidiary, AirAsia X, fell in early trade on Tuesday after the group’s CEO Tony Fernandes and Chairman Kamarudin Meranun said they would step aside for two months.
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Both Fernandes and Kamarudin announced late Monday that they would step aside as authorities investigate allegations that Airbus had paid a bribe of $50 million to win plane orders from the AirAsia.
AirAsia Group’s shares fell 5 percent as markets opened in Kuala Lumpur, while AirAsia X shares lost 8 percent.