Two top officials of AirAsia, the country’s popular low-cost airline, denied on Monday allegations that Airbus had bribed them US$50 million to purchase dozens of planes.

Airbusannounced on its website this week an agreement in principle with French, British and American authorities investigating the giant aviation firm for bribery and corruption.

Prosecutors in Munich closed out the German branch of a multinational probe into corruption at Airbus, ordering the company to pay a settlement of around US$ 99 million, Deutsche Welle reported Friday.

Aerospace giant Airbus has begun an internal investigation into possible corruption following a series of dubious financial transactions uncovered by the Guardian that resulted in a multi-million dollar unexplained payment, theGuardian reported Monday.

French authorities have joined the UK’s Serious Fraud Office (SFO) investigation into possible corruption involving Airbus external consultants who helped the company win international contracts.