MALAYSIA's securities regulator said yesterday it will examine whether Air Asia Group and unit Air Asia X broke securities laws, after UK prosecutors accused executives of receiving bribes from Airbus for buying planes.

The allegations came to light last Friday when Airbus agreed a record $4bn (£3bn) settlement with France, Britain and the United States. Prosecutors said it had bribed public officials and hidden payments as part of a pattern of worldwide corruption.

Britain's Serious Fraud Office (SFO) said that between October 2013 and January 2015, Airbus's then-parent EADS paid $50m to sponsor a sports team that was jointly owned by two people described as Air Asia Executive 1 and Executive 2. The SFO said the executives were rewarded for an aircraft order from Airbus, an allegation Air Asia denied late on Saturday.

"The Securities Commission Malaysia will examine the allegations and review all available evidence to determine if there is any breach of securities laws," Syed Zaid Albar, the regulator's chairman, said in a statement.

Directors who act with the intent to cause wrongful loss to their listed firms can face jail or fines, he added.

Reuters

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