KUALA LUMPUR — March 20, 2020: Independent expert BDO Governance Advisory has cleared AirAsia X Berhad and its two top officials over the purchase of aircraft and sponsorship of a motor racing team.
A statement from the airline today said that according to the evaluation, Tan Sri Tony Fernandes and Datuk Kamarudin Meranun had properly disclosed their interests to the board and abstained from discussions and/or decisions relating to the sponsorship.
BDO findings also showed that AirAsia X has a robust aircraft procurement process.
“The process was complied with and the company’s aircraft acquisition was justifiable and at prices favourable to the company, ” AirAsia X said in a statement to Bursa Malaysia.
BDO also found that AirAsia X’s sponsorship of the sports team was in compliance with procedures.
AirAsia X had in February announced the formation of the board committee comprising non-executive directors and the appointment of BDO as the independent expert to assist the committee undertake an independent review.
The committee has, upon review of the BDO report, accepted the final report.