A number of conspiracy-oriented websites have pointed out that CEO and founder of AirAsia, Tony Fernandes, sold a large number of shares just days before Singapore-bound QZ8501 went missing over the Java sea.
Is it true?
Yes – it’s true. Basically. Tony Fernandes’ investment company, Tune Group, sold about 950,000 shares in Tune Insurance.
But Tune Insurance isn’t AirAsia.
Also the number of share sold, while large, represents a very small portion of the shares held by Tune Group – after the sale the company still held more than 128 million shares in Tune Insurance.
The sale represented less than 1% of the shares held by Tune Group, and less than 0.2% of the total shares in Tune Insurance.
So yes, his company sold shares. But the sale wasn’t especially large and the shares weren’t in AirAsia.