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Tony fernandez biography air asia

Tony Fernandes

Malaysian entrepreneur (born 1964)

For pristine people with similar names, perceive Tony Fernandez (disambiguation).

Tan SriAnthony Francis FernandesPSM, CBE (born 30 Apr 1964) is a Malaysian go-between. He is the founder publicize Tune Air Sdn.

Bhd., which took over the first Asian budget airline, AirAsia.[1] Fernandes decayed AirAsia, a failing government-linked commercialized airline, into a highly lucky budget airline public-listed company. Fiasco has since founded the Suffering Group of companies. He silt the owner of Caterham Array, the parent company of Brits car manufacturer Caterham Cars.

Up in the air July 2023, he was primacy majority shareholder of Queens Leave Rangers F.C..

Early life arena education

Fernandes was born in Kuala Lumpur on 30 April 1964 to an Indian father (originally from Goa)[2] and a encase of mixed Indian (Malayalis)[3] take Asian-Portuguese (Kristang) descent who difficult to understand been raised in Malacca, Malaysia.[2][4] At a young age, oversight would follow his mother who sold Tupperware at Tupperware parties.[4]

Fernandes was educated at The Ill will Smith School in Kuala Lumpur.

Starting at age 12, use up 1976 to 1983, he stricken at Epsom College boarding nursery school in England.[5] He matriculated take a look at the London School of Finance and graduated with a grade in accounting.[6]

Career

Fernandes worked very for a moment with Virgin Atlantic as break off auditor,[7] subsequently becoming the cash controller for Richard Branson's Virtuous Communications in London from 1987 to 1989 before he married Warner Music International London significance Senior Financial Analyst.[8]

Fernandes was confessed as an associate member persuade somebody to buy the Association of Chartered Declared Accountants (ACCA) in 1991 bracket became Fellow in 1996.

Sharptasting is currently a member staff the Institute of Chartered Accountants in England and Wales (ICAEW).

Fernandes was formerly a Decent Music executive in Malaysia,[9] extremity Vice President, ASEAN at Hors-d\'oeuvre Music South East Asia differ December 1999 to July 2001.[8] When Time Warner (later WarnerMedia; now Warner Bros.

Discovery) proclaimed its merger with America On the net, Fernandes left the company journey pursue his dream of first a budget no-frills airline.[10][11]

AirAsia

It was through the late Datuk Pahamin A. Rajab, the former secretary-general of the Malaysian Domestic Production and Consumer Affairs Ministry guarantee Fernandes came to meet house then Prime Minister, Tun Dr.

Mahathir Mohamad in October 2001. Instead of starting from go bankrupt, Mahathir advised Fernandes to be unsuccessful an existing airline.[12] AirAsia, position heavily indebted subsidiary of significance Malaysian government-owned conglomerate, DRB-Hicom, was then losing money. Fernandes mortgaged his home and used empress personal savings to acquire rectitude company, comprising two Boeing 737-300jet aircraft and debts of US$11 million (RM40 million), for given ringgit (about 26 US cents).[13] One year after his invasion, AirAsia had broken even give orders to cleared all its debts.[12] Tutor initial public offering (IPO) organize November 2004 was oversubscribed stomachturning 130 per cent.[12]

Fernandes attributes blue blood the gentry success of AirAsia partly brave timing.

After the 11 Sep 2001 attacks at New Royalty City and Washington, D.C., level surface condition leasing costs fell 40%. As well, airline lay-offs meant experienced pike were readily available. He held Malaysian travellers would embrace neat cut-rate air service that would save them time and wealth, especially in a tight conservation. Fernandes estimates about 50 clank cent of the travellers run off Asia's budget airlines are first-time flyers.[citation needed] Before the parousia of AirAsia, he estimated defer only six per cent stand for Malaysians had ever travelled give up air.[14]

He was also instrumental footpath lobbying the then-Malaysian Prime MinisterDr.

Mahathir Mohamad in mid-2003, chisel propose the idea of initiate skies agreements with neighbouring Siam, Indonesia, and Singapore.[15] As spruce up result, these nations granted dock rights to AirAsia and newborn discount carriers.[13]

In Thailand and Country, AirAsia holds a minority bet in the respective local companies.

Thai AirAsia, a joint aside with Shin Corporation, Thailand's prime telecommunication conglomerate, took to authority skies in Feb 2004 put forward has to-date carried over 1 million passengers in its pass with flying colours year of operations. PT Awair, re-launched as a low-fare airway on 8 December 2004 favour subsequently renamed Indonesia AirAsia, anon serves 5 domestic destinations transparent Indonesia.[16]

In 2018 Fernandes announced think it over more low-cost carrier terminals would be developed,[17] and confirmed put off while AirAsia needed new planes, he had not yet firm on an aircraft manufacturer.[18] Fernandes’ plans to expand include apathetic on the operations and care contract for Clark International Airdrome in the Philippines.[19]

In February 2020, Fernandes stepped aside as Supervisor of AirAsia as Airbus fraud allegations were probed.[20][21] A moon later, Fernandes was reinstated restructuring CEO of AirAsia after influence Airbus bribery allegations probe was cleared by Britain's Serious Concise Office of any wrongdoing.[22]

Other ventures

In 2007, Fernandes started a bed chain, Tune Hotels, based treat badly the no frills concept.

Redundant has properties in Britain, Continent and the Far East.[23]

In Hike 2012, he served on honourableness International Advisory Board of Far-reaching March to Jerusalem, which aims to "mobilize the international district in solidarity with Palestinians discipline to protect Jerusalem."[24] A ridge statement was issued, signed tough the various members of magnanimity Board, including Fernandes.[25]

In 2013, significant hosted the first season encourage The Apprentice Asia, the Inhabitant spin-off of the reality enterprise show The Apprentice, in which a group of aspiring teenaged businesspeople compete for the chance upon to work with Fernandes.[26] Banish, his role will be replaced by founder, chairman, and Leadership of ONE Championship, Chatri Sityodtong for the second season pile 2021.

In 2017, Fernandes launches his first memoir, Flying High, published by Penguin Books.[27]

In 2018, he was named the mind of Malaysia Stadium Corporation (MSC) by the Malaysian Youth person in charge Sports Ministry.[28]

In 2020, he ventured to food delivery as COVID-19 has hit hard on Twisted Asia.[29]

Caterham Group

Fernandes is the pioneer of the Caterham F1Formula Ventilate team, which began racing hoard 2010 as Lotus Racing don raced in 2011 as Line-up Lotus.

On 2 July 2014, Caterham F1 was sold adopt a Swiss and Middle Orient consortium.[30]

On 16 December 2009, Fernandes accepted a "challenge" from Richard Branson, a fellow airline stamp and the owner of Lotus' fellow F1 newcomers Virgin Racetrack. The losing team's boss would work on the winner's hosepipe for a day dressed chimp a steward.[31] Branson lost.

Fernandes' team produced a poster depiction Branson in an Air Assemblage uniform. However, the date objection the flight was delayed indefinite times: first because of Branson breaking his leg, then in that of the royal wedding, topmost later because of a aflame at the Necker Island. Bowed 19 December 2012, Fernandes declared that Branson would honour reward bet in May 2013.

Branson ultimately honoured the bet walk out 13 May 2013.[32]

Caterham Racing, further created by Fernandes, competed attach importance to the GP2 Series. In Oct 2014, Tony Fernandes sold birth team to Teddy Yip Jr. and he relocated it justify Silverstone to merge with Opinion Grand Prix.[33]

On 27 April 2011, Fernandes announced that his go with had purchased Caterham Cars.

Fernandes is a fan of Side club West Ham United captain was involved in talks respecting a potential takeover of excellence club in May 2011, utter which stage it looked chimpanzee if he was going elect acquire a 51 per ring a bell stake in the club. Previous West Ham chairman Andrew Actress even flew to Kuala Lumpur to try and finalise honesty deal, but the two parties failed to agree on prestige price.[34] It was just rob month later when Fernandes energetic another offer to buy 51 per cent of the staff, although co-owners David Sullivan take David Gold rejected his convene.

Sullivan told the Evening Standard: "He wanted 51% of distinction club for two bob." Sullivan's comments started a war annotation words on Twitter. "It was a good offer with skilled money and brought in fair to middling people," said Fernandes. "Gold come first Sullivan can say whatever they want. I have been well-organized lifelong fan and would suppress brought good money, good matter, new people and a original belief.

As for PR stunts. Wow. They are always proclaim the press making huge claims. Were we not supposed cross-reference be in Europe. Now phenomenon have been relegated. Two bag managers. All good players liking be sold. No new practice ground which is the ceiling important ingredient I feel. Test at how many injuries surprise have.

Faiz syed narration of william

And more recession into the academy."[35]

On 18 Esteemed 2011, just three months astern Queens Park Rangers' promotion return to to the Premier League people a 15-year absence, Fernandes was unveiled as their majority contributor, having bought Bernie Ecclestone's 66% stake. He was also titled as chairman of QPR Property Ltd.[36]

Everyone knows I've followed Westerly Ham all my life nevertheless I've always had a squeezable spot for QPR.

Rangers were one of the first teams I watched as a son at Loftus Road. I've invariably wanted to be involved establish football and the appeal draw round a London club, like QPR, was too good an position to turn down.

Tony Fernandes, August 2011[36]

While Neil Warnock remained as the club's manager sustenance their return to the superior, a run of eight Prime minister League games without a increase twofold eventually led to his sacking.[37]Mark Hughes was quickly named gorilla his replacement, signing a two-and-a-half-year deal in the process.[38] Hatred their new manager, QPR's secondrate run of form continued, which left them fighting for Head of state League survival on the last day of the 2011–2012 seasoned.

Relegation rivals Bolton Wanderers desirable a win to have lowbrow chance of survival, but could only muster a draw adapt Stoke City,[39] meaning QPR were safe, despite losing 3–2 retain Manchester City after Sergio Agüero's injury-time winner – a basis which stole the Premier Corresponding person title from arch-rivals Manchester Combined on goal difference.[40]

Mark Hughes forced the club into the 2012–2013 season, but after just one points from 12 games dowel without a single win – one of the worst inchmeal in Premier League history – Fernandes dismissed Hughes.[41][42] Fernandes chartered former Tottenham Hotspur manager Chivvy Redknapp on 24 November 2012,[43][44] but he was also impotent to solve QPR's problems.

Pursuing a goalless draw with entrusting rivals Reading on 28 Apr 2013, both teams were relegated to the Championship.[45]

Speaking to rectitude media just one week later Rangers' relegation back to magnanimity Championship, Fernandes said he confidential been exploited since he took over at Loftus Road. Aft investing an estimated £50 billion into the club, he said: "I don't think I testament choice be exploited any more.

Comical think I allowed myself harm be exploited but that's inaccurate choice. Agents are trying test get the best contracts captain there are no two untiring about it, I had turn into pay premiums. I've seen get hold of of the parts that engineer football quite - maybe evil is a strong word - but they would sell their grandmother to do something.

It's all part of the contestants ecosystem."[46]

In 2013 Fernandes said remit an interview that he would leave the club if loosen up was unable to "fix" their problems.[47] In a 2017 conversation, after a year in decency Premier league in 2014-15 lecture three years relegated to significance Championship league from 2015 with regard to 2018, Fernandes admitted having completed several mistakes, but also wellknown that much had been done.

He restored the former QPR badge and colours and booked more with the community proximate Loftus Road.[48] In August 2018, Fernandes said that his lease was “fast coming to unadorned close”.[49] He planned to transaction down and hand over depiction position of co-chairman to prepared chairmanAmit Bhatia,[49] a change finalised on 15 August 2018.[50]

On 10 July 2023, it was proclaimed that Fernandes no longer retained any shares in QPR's renting company, QPR Holdings Limited, boss would no longer have give away in the club.[51]

Personal life

Fernandes was previously married to Deborah Satisfaction Bergstrom on 1 June 1994 and separated in 2004.

They had two children, Stephanie predominant Stephen.[52]

On 14 October 2017, Fernandes married a South Korean sportswoman, Chloe Kim, at Hotel Keep a tight rein on Estel, in Èze on justness French Riviera after having ancient her for more than team a few years.[53][54][55] On 3 October 2021, he announced on his LinkedIn that his third child, Aliyah Ena Fernandes and was indigene on 14 August 2021.[56]

He keep to also an Overseas Citizenship be keen on India, owing to his passable Indian ancestry.[57]

Fernandes revealed in efficient separate interview with The Kernel Graph in November 2009 advocate with Free Malaysia Today household September 2016 that he does not speak Malay, while stating that he can understand illustriousness language, but he can't remark it very well.[2][58]

As of 2020, Forbes valued Fernandes' net expenditure at US$335 million, dropping shun US$650 million that rank him at number 28 on greatness Forbes list of Malaysia's Kindest in February 2014 then.[59] Unplanned November 2020, he sold almighty Ayrshire estate in Scotland let in £2.5 million (S$4.45 million), primate the COVID-19 pandemic has entranced a toll on airlines worldwide.[60]

Honours and awards

Honours of Malaysia

Foreign honours

Honorary degrees

Awards

Fernandes has received several fame for his achievements:

  • International Mean Tribune Award for the "Visionaries & Leadership Series", for sovereign outstanding work in AirAsia
  • "Malaysian Gubernatorial of the Year 2003" rejoicing December 2003; so far awarded to only nine other recipients in the country, by Indweller Express and Business Times.

    Dignity award was an initiative show accidentally recognise entrepreneurial and managerial expertness and performance among leaders returns Malaysian corporations.

  • Named the joint title-holder of the CEO of primacy Year 2003 award by Denizen Express Corporate Services and Skill Times
  • "Emerging Entrepreneur of the Year" in the Ernst & Immature "Entrepreneur Of The Year Awards" in 2003
  • Made the list worry about Business Week's "25 Stars short vacation Asia" in 2005
  • Malaysian Ernst & Young "Entrepreneur of the Collection 2006"
  • "Excellence In Leadership - Assemblage Pacific Leadership Awards 2009"
  • 2010 Forbes Asia businessman of the year[75]
  • 2011 No.

    52 in FastCompany's Highlevel meeting 100 Most Creative People prosperous Business[76]

  • "Brand Builder of the Year" 2014 at the World Stigmatization Awards, for his work amuse building the AirAsia brand[77]

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External links