Tony Fernandes
Best known for:
Tony is a serial entrepreneur, the founder and owner of AirAsia.com, as well as the team principal of Team Lotus F1 team.
Summary:
Tony, founder of Tune Group, is the Group CEO of Air Asia, Asia's leading low fare, no frills airline, flying to destinations across the region. Known as the Richard Branson of Asian air travel, he turned the bankrupt carrier into the World’s Best Low-Cost Airline, and has revolutionised the aviation industry in Asean.
Biography:
Tony Fernandes is CEO of AirAsia, He bought the ailing airline from the Malaysian government days after 9/11, for the equivalent of 20p. It came with over £10m worth of debt.
Creating opportunity from serious catastrophe, Fernandes capitalised on the crisis when aircraft leasing costs were down and layoffs meant that qualified staff were readily available. Within a year, they had cleared their debts and broken even.
Educated at Epsom College 1977-83 and then graduating from the London School of Economics in 1987, Tony started his career at Virgin Atlantic as an auditor, subsequently becoming the financial controller for Richard Branson's Virgin Records in London from 1987 to 1989. Upon his return to Malaysia, he became the youngest-ever managing director of Warner Music where he was responsible for revolutionising ethnic music. However, when Time Warner Inc announced its merger with America Online Inc., Fernandes left to pursue his dream of starting a budget no-frills airline.
Once named Forbes Asia businessman of the year, Tony speaks about the fast-growing market in India and South East Asia. He demonstrates how staff are always the first priority, and that creativity and innovation are critical. As the Chariman and majority shareholder of Queens Park Rangers FC, Tony also has an insight into a very different business world.
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