Shares of AirAsia, AirAsia X fall after CEO, chairman step aside

Shares of budget airline AirAsia Group and its long-haul subsidiary, AirAsia X , fell in early trade on Tuesday after the group's CEO Tony Fernandes and Chairman Kamarudin Meranun said they would step aside for two months.

Both Fernandes and Kamarudin announced late Monday that they would step aside as authorities investigate allegations that Airbus had paid a bribe of $50 million to win plane orders from the AirAsia.

AirAsia Group's shares fell 5% as markets opened in Kuala Lumpur, while AirAsia X shares lost 8%.