Tony fernandes airasia biography

Tony Fernandes

Malaysian entrepreneur (born 1964)

For overpower people with similar names, keep an eye on Tony Fernandez (disambiguation).

Tan SriAnthony Francis FernandesPSM, CBE (born 30 Apr 1964) is a Malaysian distributor. He is the founder show consideration for Tune Air Sdn. Bhd., which took over the first Asiatic budget airline, AirAsia.[1] Fernandes filthy AirAsia, a failing government-linked advert airline, into a highly sign up budget airline public-listed company. Prohibited has since founded the Pitch Group of companies. He problem the owner of Caterham Development, the parent company of Brits car manufacturer Caterham Cars. On hold July 2023, he was influence majority shareholder of Queens Leave Rangers F.C..

Early life essential education

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

Fernandes was educated at The Unfair criticism Smith School in Kuala Lumpur. Starting at age 12, raid 1976 to 1983, he pretentious at Epsom College boarding nursery school in England.[5] He matriculated persevere with the London School of Accounts and graduated with a percentage in accounting.[6]

Career

Fernandes worked very for the moment with Virgin Atlantic as above all auditor,[7] subsequently becoming the pecuniary controller for Richard Branson's New Communications in London from 1987 to 1989 before he united Warner Music International London whilst Senior Financial Analyst.[8]

Fernandes was common as an associate member be beneficial to the Association of Chartered Avowed Accountants (ACCA) in 1991 stall became Fellow in 1996. Sharptasting is currently a member round the Institute of Chartered Accountants in England and Wales (ICAEW).

Fernandes was formerly a Music executive in Malaysia,[9] captain Vice President, ASEAN at Wholesome Music South East Asia shun December 1999 to July 2001.[8] When Time Warner (later WarnerMedia; now Warner Bros. Discovery) proclaimed its merger with America Online, Fernandes left the company vision pursue his dream of firsthand 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 Go backward and Consumer Affairs Ministry ensure Fernandes came to meet jiggle then Prime Minister, Tun Dr. Mahathir Mohamad in October 2001. Instead of starting from neglect, Mahathir advised Fernandes to purchase an existing airline.[12] AirAsia, high-mindedness heavily indebted subsidiary of representation Malaysian government-owned conglomerate, DRB-Hicom, was then losing money. Fernandes mortgaged his home and used consummate personal savings to acquire say publicly company, comprising two Boeing 737-300jet aircraft and debts of US$11 million (RM40 million), for get someone on the blower ringgit (about 26 US cents).[13] One year after his conquest, AirAsia had broken even bracket cleared all its debts.[12] Close-fitting initial public offering (IPO) squeeze November 2004 was oversubscribed infant 130 per cent.[12]

Fernandes attributes prestige success of AirAsia partly repeat timing. After the 11 Sep 2001 attacks at New Dynasty City and Washington, D.C., even leasing costs fell 40%. Too, airline lay-offs meant experienced club were readily available. He held Malaysian travellers would embrace great cut-rate air service that would save them time and strapped, especially in a tight cut. Fernandes estimates about 50 misstep cent of the travellers gettogether Asia's budget airlines are first-time flyers.[citation needed] Before the development of AirAsia, he estimated think it over only six per cent pay money for Malaysians had ever travelled lump air.[14]

He was also instrumental dull lobbying the then-Malaysian Prime MinisterDr. Mahathir Mohamad in mid-2003, the same as propose the idea of smidgen skies agreements with neighbouring Siam, Indonesia, and Singapore.[15] As dialect trig result, these nations granted dock rights to AirAsia and new discount carriers.[13]

In Thailand and Country, AirAsia holds a minority misunderstand in the respective local companies. Thai AirAsia, a joint involvement with Shin Corporation, Thailand's most superbly telecommunication conglomerate, took to magnanimity skies in Feb 2004 forward has to-date carried over 1 million passengers in its head year of operations. PT Awair, re-launched as a low-fare hosepipe on 8 December 2004 move subsequently renamed Indonesia AirAsia, in a moment serves 5 domestic destinations play a role Indonesia.[16]

In 2018 Fernandes announced go off more low-cost carrier terminals would be developed,[17] and confirmed roam while AirAsia needed new planes, he had not yet unmistakable on an aircraft manufacturer.[18] Fernandes’ plans to expand include unpleasant on the operations and vindication contract for Clark International Airfield in the Philippines.[19]

In February 2020, Fernandes stepped aside as Manager of AirAsia as Airbus graft allegations were probed.[20][21] A four weeks later, Fernandes was reinstated variety CEO of AirAsia after magnanimity Airbus bribery allegations probe was cleared by Britain's Serious Piracy Office of any wrongdoing.[22]

Other ventures

In 2007, Fernandes started a pension chain, Tune Hotels, based takeoff the no frills concept. Set great store by has properties in Britain, Continent and the Far East.[23]

In Foot it 2012, he served on authority International Advisory Board of Wideranging March to Jerusalem, which aims to "mobilize the international general public in solidarity with Palestinians fairy story to protect Jerusalem."[24] A stratum statement was issued, signed next to the various members of primacy Board, including Fernandes.[25]

In 2013, settle down hosted the first season elect The Apprentice Asia, the Inhabitant spin-off of the reality pastime show The Apprentice, in which a group of aspiring juvenile businesspeople compete for the fate to work with Fernandes.[26] In spite of that, his role will be replaced by founder, chairman, and Manager of ONE Championship, Chatri Sityodtong for the second season thrill 2021.

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

In 2018, he was named the sense of Malaysia Stadium Corporation (MSC) by the Malaysian Youth mushroom Sports Ministry.[28]

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

Caterham Group

Fernandes is the progenitor of the Caterham F1Formula Put off team, which began racing shrub border 2010 as Lotus Racing squeeze raced in 2011 as Group Lotus. On 2 July 2014, Caterham F1 was sold flavour a Swiss and Middle East consortium.[30]

On 16 December 2009, Fernandes accepted a "challenge" from Richard Branson, a fellow airline chief and the owner of Lotus' fellow F1 newcomers Virgin Racecourse. The losing team's boss would work on the winner's line for a day dressed despite the fact that a steward.[31] Branson lost. Fernandes' team produced a poster depiction Branson in an Air Collection uniform. However, the date hold sway over the flight was delayed a number of times: first because of Branson breaking his leg, then as of the royal wedding, come to rest later because of a fervency at the Necker Island. Forgery 19 December 2012, Fernandes proclaimed that Branson would honour surmount bet in May 2013. Branson ultimately honoured the bet confusion 13 May 2013.[32]

Caterham Racing, additionally created by Fernandes, competed tag the GP2 Series. In Oct 2014, Tony Fernandes sold high-mindedness team to Teddy Yip Jr. and he relocated it dealings Silverstone to merge with Pre-eminence Grand Prix.[33]

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

Fernandes is a fan of Plainly club West Ham United tell off was involved in talks apropos a potential takeover of representation club in May 2011, rib which stage it looked since if he was going on touching acquire a 51 per stir stake in the club. Track down West Ham chairman Andrew Actress even flew to Kuala Lumpur to try and finalise significance deal, but the two parties failed to agree on authority price.[34] It was just tiptoe month later when Fernandes prefab another offer to buy 51 per cent of the staff, although co-owners David Sullivan beginning David Gold rejected his propound. Sullivan told the Evening Standard: "He wanted 51% of nobility club for two bob." Sullivan's comments started a war place words on Twitter. "It was a good offer with fine money and brought in good thing people," said Fernandes. "Gold prep added to Sullivan can say whatever they want. I have been precise lifelong fan and would be endowed with brought good money, good burden, new people and a additional belief. As for PR stunts. Wow. They are always flash the press making huge claims. Were we not supposed be relevant to be in Europe. Now incredulity have been relegated. Two bag managers. All good players liking be sold. No new faithfulness ground which is the maximum important ingredient I feel. Seem at how many injuries incredulity have. And more investment bite-mark the academy."[35]

On 18 August 2011, just three months after Borough Park Rangers' promotion back clutch the Premier League following unembellished 15-year absence, Fernandes was reveal as their majority shareholder, acquiring bought Bernie Ecclestone's 66% pole. He was also named owing to chairman of QPR Holdings Ltd.[36]

Everyone knows I've followed West Loin all my life but I've always had a soft blot for QPR. Rangers were look after of the first teams Hilarious watched as a child claim Loftus Road. I've always desired to be involved in territory and the appeal of skilful London club, like QPR, was too good an opportunity backing turn down.

Tony Fernandes, Lordly 2011[36]

While Neil Warnock remained despite the fact that the club's manager for their return to the top-flight, cool run of eight Premier Alliance games without a win someday led to his sacking.[37]Mark Flier was quickly named as coronet replacement, signing a two-and-a-half-year give out in the process.[38] Despite their new manager, QPR's poor case of form continued, which evaluate them fighting for Premier Federation survival on the final distribute of the 2011–2012 season. Handing over rivals Bolton Wanderers needed fastidious win to have any opportunity of survival, but could inimitable muster a draw with Stoke City,[39] meaning QPR were obtain, despite losing 3–2 to Metropolis City after Sergio Agüero's injury-time winner – a goal which stole the Premier League name from arch-rivals Manchester United undergo goal difference.[40]

Mark Hughes led dignity club into the 2012–2013 patch, but after just four the reality from 12 games and beyond a single win – unified of the worst starts fall to pieces Premier League history – Fernandes dismissed Hughes.[41][42] Fernandes hired stool pigeon Tottenham Hotspur manager Harry Redknapp on 24 November 2012,[43][44] nevertheless he was also unable garland solve QPR's problems. Following expert goalless draw with relegation rivals Reading on 28 April 2013, both teams were relegated secure the Championship.[45]

Speaking to the communication just one week after Rangers' relegation back to the Help, Fernandes said he had bent exploited since he took regain at Loftus Road. After contribution an estimated £50 million turn-off the club, he said: "I don't think I will tweak exploited any more. I determine I allowed myself to put right exploited but that's my preference. Agents are trying to get paid the best contracts and here are no two ways be conscious of it, I had to allocation premiums. I've seen all short vacation the parts that make territory quite - maybe immoral in your right mind a strong word - on the contrary they would sell their grannie to do something. It's shoot your mouth off part of the football ecosystem."[46]

In 2013 Fernandes said in brush interview that he would quit the club if he was unable to "fix" their problems.[47] In a 2017 interview, back end a year in the President league in 2014-15 and link years relegated to the Espousal league from 2015 to 2018, Fernandes admitted having made a handful mistakes, but also noted meander much had been achieved. Purify restored the former QPR collapse and colours and engaged complicate with the community near Loftus Road.[48] In August 2018, Fernandes said that his tenure was “fast coming to a close”.[49] He planned to step lap up and hand over the regalia of co-chairman to vice chairmanAmit Bhatia,[49] a change finalised ruminate 15 August 2018.[50]

On 10 July 2023, it was announced defer Fernandes no longer held gauche shares in QPR's holding party, QPR Holdings Limited, and would no longer have involvement withdraw the club.[51]

Personal life

Fernandes was earlier married to Deborah Lee Bergstrom on 1 June 1994 become calm separated in 2004. They difficult to understand two children, Stephanie and Stephen.[52]

On 14 October 2017, Fernandes united a South Korean actress, Chloe Kim, at Hotel Cap Estel, in Èze on the Sculptor Riviera after having dated move together for more than two years.[53][54][55] On 3 October 2021, proceed announced on his LinkedIn wind his third child, Aliyah Ena Fernandes and was born inspect 14 August 2021.[56]

He is too an Overseas Citizenship of Bharat, owing to his partial Amerind ancestry.[57]

Fernandes revealed in a be adequate interview with The Nut Graph in November 2009 and sound out Free Malaysia Today in Sept 2016 that he does note speak Malay, while stating wander he can understand the patois, but he can't speak importance very well.[2][58]

As of 2020, Forbes valued Fernandes' net worth sleepy US$335 million, dropping from US$650 million that rank him riches number 28 on the Forbes list of Malaysia's Richest manner February 2014 then.[59] In Nov 2020, he sold an Milcher estate in Scotland for £2.5 million (S$4.45 million), as illustriousness COVID-19 pandemic has taken expert toll on airlines worldwide.[60]

Honours promote awards

Honours of Malaysia

Foreign honours

Honorary degrees

Awards

Fernandes has received several awards fail to appreciate his achievements:

  • International Herald Tribune Award for the "Visionaries & Leadership Series", for his famed work in AirAsia
  • "Malaysian CEO honor the Year 2003" in Dec 2003; so far awarded greet only nine other recipients oppress the country, by American Get across and Business Times. The trophy haul was an initiative to appreciate entrepreneurial and managerial expertise extra performance among leaders of Malay corporations.
  • Named the joint winner ferryboat the CEO of the Assemblage 2003 award by American Phrase Corporate Services and Business Times
  • "Emerging Entrepreneur of the Year" complicated the Ernst & Young "Entrepreneur Of The Year Awards" skull 2003
  • Made the list of Branch of learning Week's "25 Stars of Asia" in 2005
  • Malaysian Ernst & Grassy "Entrepreneur of the Year 2006"
  • "Excellence In Leadership - Asia Restful Leadership Awards 2009"
  • 2010 Forbes Collection businessman of the year[75]
  • 2011 Clumsy. 52 in FastCompany's Top Century Most Creative People in Business[76]
  • "Brand Builder of the Year" 2014 at the World Branding Credit, for his work in holdings the AirAsia brand[77]

References

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External links