Features
Qantas says Satyam IT risk 'manageable'
8th January 2009
QANTAS Airways Ltd, which has an information technology contract with India's Satyam Computer Services Ltd, says any risks to business are manageable.
Satyam founder and chairman, B Ramalinga Raju, resigned on Wednesday amid a scandal over a billion dollar fraud that sent the company's stocks into freefall.
Mr Raju admitted the Hyderabad-based software services firm had falsified accounts and assets and inflated its profits over several years.
Qantas said in a statement on Thursday that it had five years remaining on a seven-year contract under which Satyam provides IT application maintenance and support for the company.
"At this stage Qantas assesses any risks to business as manageable," it said.
Qantas said it was monitoring the situation and would continue to do so on a daily basis until the situation was resolved.
"In the event that Satyam is unable to continue services, Qantas has the ability to activate alternative internal and external arrangement to enable the continuation of seamless services."
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