AirAsia Group faces corruption probe in India

Malaysia-based AirAsia Group is reportedly facing a corruption probe filed by India's Central Bureau of Investigation (CBI) over alleged bribery in order to obtain government approvals to launch AirAsia India.

AirAsia chief executive Tony Fernandes, his deputy Bo Lingam and others were named in the CBI report, which claimed the bribes involved a "sham contract" with a Singapore-based entity.

The Indian carrier is supposed to be operating as a joint venture with local investors and not a direct subsidiary of the Group.

AirAsia India "refutes any wrongdoing and is cooperating with all regulators and agencies to present the correct facts."