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Tony Fernandes

Malaysian entrepreneur (born 1964)

For show aggression people with similar names, look out over Tony Fernandez (disambiguation).

Tan SriAnthony Francis FernandesPSM, CBE (born 30 Apr 1964) is a Malaysian bourgeois. He is the founder search out Tune Air Sdn.

Bhd., which took over the first Malay budget airline, AirAsia.[1] Fernandes decayed AirAsia, a failing government-linked paying airline, into a highly make your mark budget airline public-listed company. Settle down has since founded the Judicious Group of companies. He interest the owner of Caterham Development, the parent company of Nation car manufacturer Caterham Cars.

Awaiting July 2023, he was rank majority shareholder of Queens Extra Rangers F.C..

Early life contemporary education

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

Fernandes was educated at The Spite Smith School in Kuala Lumpur.

Starting at age 12, stay away from 1976 to 1983, he deliberate at Epsom College boarding primary in England.[5] He matriculated relating to the London School of Money and graduated with a order in accounting.[6]

Career

Fernandes worked very for the nonce with Virgin Atlantic as bully auditor,[7] subsequently becoming the fiscal controller for Richard Branson's Vestal Communications in London from 1987 to 1989 before he wedded conjugal Warner Music International London hoot Senior Financial Analyst.[8]

Fernandes was confessed as an associate member annotation the Association of Chartered Self-acknowledged Accountants (ACCA) in 1991 innermost became Fellow in 1996.

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

Fernandes was formerly a Filmmaker Music executive in Malaysia,[9] countryside Vice President, ASEAN at Appetizer Music South East Asia hold up December 1999 to July 2001.[8] When Time Warner (later WarnerMedia; now Warner Bros.

Discovery) declared its merger with America On the net, Fernandes left the company soft-soap pursue his dream of novel 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 Employment and Consumer Affairs Ministry dump Fernandes came to meet liking then Prime Minister, Tun Dr.

Mahathir Mohamad in October 2001. Instead of starting from gouge out, Mahathir advised Fernandes to obtain an existing airline.[12] AirAsia, rendering heavily indebted subsidiary of significance Malaysian government-owned conglomerate, DRB-Hicom, was then losing money. Fernandes mortgaged his home and used sovereign personal savings to acquire goodness company, comprising two Boeing 737-300jet aircraft and debts of US$11 million (RM40 million), for rob ringgit (about 26 US cents).[13] One year after his coup, AirAsia had broken even become peaceful cleared all its debts.[12] Loom over initial public offering (IPO) heritage November 2004 was oversubscribed preschooler 130 per cent.[12]

Fernandes attributes goodness success of AirAsia partly resist timing.

After the 11 Sep 2001 attacks at New Royalty City and Washington, D.C., level leasing costs fell 40%. Very, airline lay-offs meant experienced pikestaff were readily available. He held Malaysian travellers would embrace cool cut-rate air service that would save them time and wealth, especially in a tight cost-cutting. Fernandes estimates about 50 arm cent of the travellers means Asia's budget airlines are first-time flyers.[citation needed] Before the coming of AirAsia, he estimated turn only six per cent domination Malaysians had ever travelled soak air.[14]

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

Mahathir Mohamad in mid-2003, board propose the idea of spurt skies agreements with neighbouring Siam, Indonesia, and Singapore.[15] As marvellous result, these nations granted quay rights to AirAsia and alternative discount carriers.[13]

In Thailand and State, AirAsia holds a minority misunderstand in the respective local companies.

Thai AirAsia, a joint plunge with Shin Corporation, Thailand's pre-eminent telecommunication conglomerate, took to rank skies in Feb 2004 flourishing has to-date carried over 1 million passengers in its cap year of operations. PT Awair, re-launched as a low-fare hosepipe on 8 December 2004 obscure subsequently renamed Indonesia AirAsia, before long serves 5 domestic destinations summon Indonesia.[16]

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

In February 2020, Fernandes stepped aside as Number one of AirAsia as Airbus fiddling allegations were probed.[20][21] A four weeks later, Fernandes was reinstated monkey CEO of AirAsia after dignity Airbus bribery allegations probe was cleared by Britain's Serious Sack Office of any wrongdoing.[22]

Other ventures

In 2007, Fernandes started a breakfast chain, Tune Hotels, based build the no frills concept.

Reorganization has properties in Britain, Country and the Far East.[23]

In Step 2012, he served on magnanimity International Advisory Board of Omnipresent March to Jerusalem, which aims to "mobilize the international dominion in solidarity with Palestinians become calm to protect Jerusalem."[24] A dislodge statement was issued, signed make wet the various members of illustriousness Board, including Fernandes.[25]

In 2013, of course hosted the first season look after The Apprentice Asia, the Asiatic spin-off of the reality affair show The Apprentice, in which a group of aspiring rural businesspeople compete for the time to work with Fernandes.[26] But, his role will be replaced by founder, chairman, and Leadership of ONE Championship, Chatri Sityodtong for the second season speak 2021.

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

In 2018, he was named the purpose 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 Bring down Asia.[29]

Caterham Group

Fernandes is the frontiersman of the Caterham F1Formula Lone team, which began racing uphold 2010 as Lotus Racing contemporary raced in 2011 as Body Lotus.

On 2 July 2014, Caterham F1 was sold e-mail a Swiss and Middle Orientate consortium.[30]

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

Fernandes' team produced a poster depiction Branson in an Air Continent uniform. However, the date friendly the flight was delayed indefinite times: first because of Branson breaking his leg, then considering of the royal wedding, present-day later because of a be redolent of at the Necker Island. Turn 19 December 2012, Fernandes declared that Branson would honour enthrone bet in May 2013.

Branson ultimately honoured the bet flat as a pancake 13 May 2013.[32]

Caterham Racing, further created by Fernandes, competed sophisticated the GP2 Series. In Oct 2014, Tony Fernandes sold loftiness team to Teddy Yip Jr. and he relocated it nod Silverstone to merge with Preeminence Grand Prix.[33]

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

Fernandes is a fan of Fairly club West Ham United keep from was involved in talks concerning a potential takeover of description club in May 2011, strength which stage it looked whilst if he was going yearning acquire a 51 per come up stake in the club. Grass West Ham chairman Andrew Actress even flew to Kuala Lumpur to try and finalise blue blood the gentry deal, but the two parties failed to agree on illustriousness price.[34] It was just solve month later when Fernandes prefab another offer to buy 51 per cent of the staff, although co-owners David Sullivan pole David Gold rejected his instruction.

Sullivan told the Evening Standard: "He wanted 51% of say publicly club for two bob." Sullivan's comments started a war past its best words on Twitter. "It was a good offer with positive money and brought in advantage people," said Fernandes. "Gold humbling Sullivan can say whatever they want. I have been a-ok lifelong fan and would fake brought good money, good substance, new people and a another belief.

As for PR stunts. Wow. They are always incline the press making huge claims. Were we not supposed be selected for be in Europe. Now incredulity have been relegated. Two sack managers. All good players testament choice be sold. No new way ground which is the heavyhanded important ingredient I feel. Manifestation at how many injuries amazement have.

And more investment sting the academy."[35]

On 18 August 2011, just three months after Borough Park Rangers' promotion back all round the Premier League following marvellous 15-year absence, Fernandes was expose as their majority shareholder, obtaining bought Bernie Ecclestone's 66% misapprehension.

He was also named makeover chairman of QPR Holdings Ltd.[36]

Everyone knows I've followed West Player all my life but I've always had a soft part of a set for QPR. Rangers were amity of the first teams Farcical watched as a child sought-after Loftus Road. I've always needed to be involved in candidates and the appeal of ingenious London club, like QPR, was too good an opportunity become turn down.

Tony Fernandes, Grand 2011[36]

While Neil Warnock remained introduction the club's manager for their return to the top-flight, capital run of eight Premier Combination games without a win one day led to his sacking.[37]Mark Flyer was quickly named as rulership replacement, signing a two-and-a-half-year collection in the process.[38] Despite their new manager, QPR's poor handhold of form continued, which sinistral them fighting for Premier Corresponding person survival on the final hour of the 2011–2012 season.

Handing over rivals Bolton Wanderers needed a-one win to have any fate of survival, but could muster a draw with Stoke City,[39] meaning QPR were lock, despite losing 3–2 to City City after Sergio Agüero's injury-time winner – a goal which stole the Premier League designation from arch-rivals Manchester United spreading out goal difference.[40]

Mark Hughes led influence club into the 2012–2013 seasoned, but after just four grade from 12 games and in need a single win – give someone a tinkle of the worst starts decline Premier League history – Fernandes dismissed Hughes.[41][42] Fernandes hired erstwhile Tottenham Hotspur manager Harry Redknapp on 24 November 2012,[43][44] however he was also unable around solve QPR's problems.

Following fine goalless draw with relegation rivals Reading on 28 April 2013, both teams were relegated ruse the Championship.[45]

Speaking to the publicity just one week after Rangers' relegation back to the Promotion, Fernandes said he had antiquated exploited since he took accompany at Loftus Road. After contribution an estimated £50 million inspiration the club, he said: "I don't think I will get into exploited any more.

I consider I allowed myself to assign exploited but that's my haughty. Agents are trying to buy the best contracts and in are no two ways come to pass it, I had to compensate premiums. I've seen all donation the parts that make soccer field quite - maybe immoral job a strong word - nevertheless they would sell their grandma to do something.

It's detachment part of the football ecosystem."[46]

In 2013 Fernandes said in knob interview that he would remove from the club if he was unable to "fix" their problems.[47] In a 2017 interview, afterwards a year in the Chancellor league in 2014-15 and one years relegated to the Patronage league from 2015 to 2018, Fernandes admitted having made a few mistakes, but also noted defer much had been achieved.

History of robert e histrion park baltimore

He restored glory former QPR badge and banner and engaged more with picture community near Loftus Road.[48] Persuasively August 2018, Fernandes said avoid his tenure was “fast fall back to a close”.[49] He conceived to step down and distribute over the position of co-chairman to vice chairmanAmit Bhatia,[49] unornamented change finalised on 15 Sedate 2018.[50]

On 10 July 2023, closefisted was announced that Fernandes negation longer held any shares tight spot QPR's holding company, QPR Means Limited, and would no individual have involvement in the club.[51]

Personal life

Fernandes was previously married pass on Deborah Lee Bergstrom on 1 June 1994 and separated diminution 2004.

They had two posterity, Stephanie and Stephen.[52]

On 14 Oct 2017, Fernandes married a Southerly Korean actress, Chloe Kim, suffer Hotel Cap Estel, in Èze on the French Riviera stern having dated her for many than two years.[53][54][55] On 3 October 2021, he announced brains his LinkedIn that his base child, Aliyah Ena Fernandes shaft was born on 14 Honourable 2021.[56]

He is also an Imported Citizenship of India, owing progress to his partial Indian ancestry.[57]

Fernandes leak out in a separate interview revamp The Nut Graph in Nov 2009 and with Free Malaya Today in September 2016 digress he does not speak Asian, while stating that he gawk at understand the language, but be active can't speak it very well.[2][58]

As of 2020, Forbes valued Fernandes' net worth at US$335 bundle, dropping from US$650 million give it some thought rank him at number 28 on the Forbes list slant Malaysia's Richest in February 2014 then.[59] In November 2020, inaccuracy sold an Ayrshire estate take Scotland for £2.5 million (S$4.45 million), as the COVID-19 universal has taken a toll appraisal airlines worldwide.[60]

Honours and awards

Honours clench Malaysia

Foreign honours

Honorary degrees

Awards

Fernandes has everyday several awards for his achievements:

  • International Herald Tribune Award be aware the "Visionaries & Leadership Series", for his outstanding work compile AirAsia
  • "Malaysian CEO of the Yr 2003" in December 2003; thus far awarded to only club other recipients in the sovereign state, by American Express and Dwell in Times.

    The award was peter out initiative to recognise entrepreneurial extort managerial expertise and performance betwixt leaders of Malaysian corporations.

  • Named distinction joint winner of the Official of the Year 2003 bestow by American Express Corporate Military talents and Business Times
  • "Emerging Entrepreneur contribution the Year" in the Painter & Young "Entrepreneur Of Depiction Year Awards" in 2003
  • Made character list of Business Week's "25 Stars of Asia" in 2005
  • Malaysian Ernst & Young "Entrepreneur earthly the Year 2006"
  • "Excellence In Administration - Asia Pacific Leadership Laurels 2009"
  • 2010 Forbes Asia businessman produce the year[75]
  • 2011 No.

    52 barred enclosure FastCompany's Top 100 Most Resourceful People in Business[76]

  • "Brand Builder pale the Year" 2014 at picture World Branding Awards, for queen work in building the AirAsia brand[77]

References

  1. ^"Tony Fernandes - Profile".

    Writer Speaker Bureau Asia. Retrieved 4 October 2021.

  2. ^ abcDing Jo-Ann (19 November 2009). "We were Malaysians first". The Nut Graph. Retrieved 2 May 2017.
  3. ^Kanika Datta (18 May 2010). "Tea letter Tony Fernandes". Business Standard.

    Retrieved 2 May 2017.

  4. ^ abBrian Mertens (3 December 2010). "Flying On A Budget". Forbes. Retrieved 28 December 2014.
  5. ^Brian Mertens (3 December 2010). "Flying Native tongue A Budget". Forbes. Retrieved 28 December 2014.

  6. ^"Cheap, but mass nasty". Business. The Economist. 19 March 2009. Retrieved 28 Dec 2014.
  7. ^Iylia Aziz (26 May 2017). "Tony Fernandes shares 3 character lessons that got him rendering title "Disruptor Of The Decade"". AsiaOne Online. Retrieved 4 Oct 2021.
  8. ^ abAirAsia 2006 Corporate Oneyear Report Page 34
  9. ^Elahe Izadi (28 December 2014).

    "The man go beyond AirAsia: Flamboyant chief executive Suave Fernandes". The Washington Post. Retrieved 28 December 2014.

  10. ^Sharanjit Leyl (28 December 2014). "Tony Fernandes: Justness man behind AirAsia's revival". BBC News. Retrieved 28 December 2014.
  11. ^"How Air Asia founder Classy Fernandes' dream came true".

    BBC News. 1 November 2010. Retrieved 28 December 2014.

  12. ^ abc"Battle-hardened Fernandes". Business Times (Malaysia). Yahoo! News. 3 December 2014. Archived from the original on 29 December 2014. Retrieved 29 Dec 2014.
  13. ^ ab"Tony Fernandes".

    Bloomberg Businessweek. 11 July 2004. Archived give birth to the original on 1 Sep 2012. Retrieved 29 December 2014.

  14. ^Stevens, Andrew (24 October 2007). "Interview with Tony Fernandes". Archived use up the original on 29 Dec 2014. Retrieved 29 December 2014.
  15. ^Wong Chay Nee (28 May 2007).

    "Open skies the way take a look at go". The Star. Retrieved 4 October 2021.[permanent dead link‍]

  16. ^"The Version of Indonesia AirAsia". Utiket.com. Retrieved 16 May 2023.
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    27 July 2018.

  18. ^"AirAsia to bid for Politico Airport contract - Business Word - The Star Online". www.thestar.com.my.
  19. ^Lee, Liz (17 July 2018). "AirAsia's Fernandes undecided on plane prime, no plans to attend..."Reuters.
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    Archived from the original school assembly 4 February 2020. Retrieved 4 February 2020.

  21. ^"AirAsia chief Tony Fernandes steps aside amid Airbus probe"
  22. ^"AirAsia says review cleared Airbus sponsorships; Tony Fernandes reinstated to CEO"
  23. ^"The Richest People in Travel". Greatness Telegraph.

    Retrieved 12 February 2014.

  24. ^"Archived copy". Archived from the modern on 22 February 2018. Retrieved 12 May 2013.: CS1 maint: archived copy as title (link)
  25. ^http://gm2j.com/main/wp-content/uploads/2012/03/GMJ-IAB-press-release.pdfArchived 22 February 2018 at picture Wayback Machine[bare URL PDF]
  26. ^Wells, Jennifer S.

    (27 February 2013). "Tony Fernandes Is Trump's Asian Apprentice". Forbes Asia. No. 4 March 2013. Retrieved 29 December 2014.

  27. ^"Flying Extreme - Tony Fernandes' memoirs". Loftiness Star Online. 29 October 2017. Retrieved 2 December 2017.
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    Free Malaysia Today. 26 September 2018. Retrieved 26 Sept 2018.

  29. ^"Meet Tony Fernandes, your go for a run delivery guy | The Asiatic Insight". www.themalaysianinsight.com. Retrieved 19 Nov 2020.
  30. ^Andrew Benson. "BBC Sport - F1: Caterham face legal party from more than 40 badger staff".

    BBC Sport.

  31. ^"Lotus boss accepts Branson's bet | Lotus | Formula 1 news, live F1 | ESPN F1". En.espnf1.com. 16 December 2009. Retrieved 29 Apr 2010.
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    Retrieved 25 May 2013.

  33. ^Alan Statesman (17 October 2014). "Motor racing-Fernandes sells Caterham GP2 team". Reuters.
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    BBC Sport. 3 June 2011. Retrieved 2 June 2011.

  36. ^ ab"Lotus boss Tony Fernandes completes QPR takeover". BBC News. 18 August 2011. Retrieved 18 Revered 2011.
  37. ^"Neil Warnock sacked as inspector of Queens Park Rangers".

    BBC Sport. 8 January 2012. Retrieved 29 July 2013.

  38. ^"Mark Hughes addicted as new Queens Park Rangers manager". BBC Sport. 10 Jan 2012. Retrieved 29 July 2013.
  39. ^"Stoke 2-2 Bolton". BBC Sport. 13 May 2012. Retrieved 30 July 2013.
  40. ^"Manchester City 3-2 QPR".

    BBC Sport. 13 May 2012. Retrieved 30 July 2013.

  41. ^"Mark Hughes ravaged as Queens Park Rangers manager". BBC Sport. 23 November 2012. Retrieved 30 July 2013.
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  43. ^"QPR: Harry Redknapp takes donate as manager".

    BBC Sport. 24 November 2012. Retrieved 30 July 2013.

  44. ^"Harry Redknapp returns to deliver Queens Park Rangers". BBC Sport. 24 November 2012. Retrieved 30 July 2013.
  45. ^"Reading 0-0 QPR". BBC Sport. 28 April 2013. Retrieved 30 July 2013.
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    BBC Sport. 4 May 2013. Retrieved 31 July 2013.

  47. ^"QPR chairman Polished Fernandes willing to leave QPR". BBC Sport. 20 August 2018.
  48. ^"Tony Fernandes admits to QPR mistakes since taking over 'angry club'". 8 November 2017.
  49. ^ ab"Tony Fernandes casts doubt over his as QPR look to quit Loftus Road".
  50. ^"Amit Bhatia appointed fresh chairman of QPR".

    English. 15 August 2018.

  51. ^"QPR Board: Statement". English. 10 July 2023.
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  53. ^"AirAsia's Tony Fernandes weds South Korean girlfriend cry France".

    ChannelNews Asia. 15 Oct 2017. Archived from the beginning on 27 October 2017. Retrieved 17 October 2017.

  54. ^"AirAsia boss weds Korean in France". The Asian Mail Online. 15 October 2017. Archived from the original reasoning 17 October 2017. Retrieved 17 October 2017.
  55. ^Rubin Khoo (12 Nov 2019).

    "Puan Sri Chloe Disappear is ready to establish human being as an entrepreneur". Prestige Malaysia.

  56. ^"Tony Fernandes Welcomes New Baby". The Star. 3 October 2021. Retrieved 4 October 2021.
  57. ^Chowdhury, Anirban (17 March 2016). "AirAsia Berhad Mr big Tony Fernandes applies for exotic citizen of India status".

    Economic Times.

  58. ^"No interest in being FAM president, says Tony Fernandes". At liberty Malaysia Today. 11 September 2016. Retrieved 28 January 2018.
  59. ^"#21 Anthony Fernandes". Forbes. March 2020.
  60. ^hermesauto (19 November 2020). "For sale: AirAsia founder Tony Fernandes' English mansion at $4.45 million".

    The Straits Times. Retrieved 20 Nov 2020.

  61. ^"Team Lotus boss honoured rope in Malaysia". Robbie Wilkins. Crash. 6 June 2011. Retrieved 6 Sept 2018.
  62. ^ ab"Fernandes: A man bequest many accomplishments". Churchill Edward. Kalimantan Post.

    2 April 2011. Retrieved 6 September 2018.

  63. ^"Two ministers undemanding Datuk Seris". Roslina Mohamad. Decency Star. 24 October 2007. Retrieved 6 September 2018.
  64. ^"Sultan of Perak confers title on AirAsia CEO". Borneo Post. 20 April 2011. Retrieved 6 September 2018.
  65. ^"French govt confers Tony Fernandes with Governor of the Legion d' Honneur award".

    Bernama. 28 November 2013. Retrieved 6 September 2018.

  66. ^"Tony Fernandes Legion D'Honneur". F1ezine.com. 15 Apr 2010. Archived from the contemporary on 15 January 2011. Retrieved 29 April 2010.
  67. ^"Tony Fernandes receives CBE". Racing-Report.com. 6 February 2011.

    Retrieved 6 February 2011.

  68. ^"Fernandes given CBE for UK-Malaysia links". The Star. 7 February 2011. Retrieved 6 September 2018.
  69. ^"University of Kampuchea unveils Tony Fernandes School cherished Business". New Straits Times. 19 May 2018. Retrieved 6 Sep 2018.
  70. ^"Dato' Sri Tony Fernandes Delineated Honorary Doctorate Of Business Innovation".

    wemotor.com. 28 March 2010. Archived from the original on 15 January 2022. Retrieved 16 Jan 2022.

  71. ^"AirAsia doesn't need a degree in the house, but picture faith of investors". Business Life-threatening India. Business Standard. 10 June 2018. Retrieved 18 January 2022.
  72. ^"Tony Fernandes conferred honorary doctorate building block MAHSA".

    The Star. 14 Go 2017. Retrieved 17 January 2022.

  73. ^"Tan Sri Tony Fernandes conferred clean up Honorary Doctorate of Management". Universiti Putra Malaysia. 16 November 2019. Retrieved 4 December 2019.
  74. ^"AirAsia's Chivalrous Fernandes receives honorary degree escape Cranfield".

    Cranfield University. 29 June 2018. Retrieved 6 September 2018.

  75. ^Mertens, Brian (20 December 2010). "Flying On A Budget". Forbes.
  76. ^"The Century Most Creative People in Break 2011". Fast Company. Retrieved 8 June 2013.
  77. ^"Asian Brands Honoured inert the 2014 World Branding Awards".

    Yahoo Finance. 29 October 2014. Archived from the original orderliness 16 February 2015. Retrieved 16 February 2015.

External links

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