AirAsia shares plunge after Airbus bribery allegations

Shares of Malaysia's AirAsia Group and unit AirAsia X fell on Monday, after allegations by Britain's Serious Fraud Office that Airbus paid a bribe of $50 million to win plane orders from Asia's largest budget airline group.

AirAsia shares fell 10%, while AirAsia X shares dropped 12%.

Malaysia's anti-graft agency is investigating allegations by Britain's Serious Fraud Office. AirAsia has said it had never made any purchase decisions that were premised on an Airbus sponsorship, and that it would fully cooperate with Malaysia's Anti-Corruption Commission.