EXCLUSIVE: To build the AirAsia brand through sponsorships.
Group gave their nod in 2010 to efforts by Tan Sri Tony Fernandes to build the AirAsia brand through sponsorships, said sources.had approved amounts of up to US$250mil sought for a sponsorship strategy via a Formula One racing team.
The UK SFO allegations concern a US$50mil sponsorship between Caterham Formula 1 racing team, which was founded by Fernandes, and Airbus’s former parent, EADS, between the years of 2013 and 2015. Based on the document findings that have now become public records, the source claims there are mismatches between the timelines of some of the emails released and the charges levied against Airbus by the SFO.
“Thus, how can emails for sponsorships that had already happened from 2010 to 2011 be used as evidence for sponsorships in 2013 to 2015?” asked the source. At that time, analysts had seen the acquisition of the 200 aircraft as a necessity, as the last order AirAsia placed was in November 2007. “Perhaps Airbus should allow Fernandes to disclose the price of the planes he acquired for the AirAsia group, and compare it to the price Airbus sold its aircraft to other airlines at that time, ” said the source. The suggestion is that AirAsia paid below the average price other airlines had paid when ordering their planes from Airbus.
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