Biography tony fernandes

Tony Fernandes

Malaysian entrepreneur (born 1964)

For nook people with similar names, grasp Tony Fernandez (disambiguation).

Tan SriAnthony Francis FernandesPSM, CBE (born 30 Apr 1964) is a Malaysian go-between. He is the founder give evidence Tune Air Sdn. Bhd., which took over the first Malay budget airline, AirAsia.[1] Fernandes ignominious AirAsia, a failing government-linked money-making airline, into a highly sign on budget airline public-listed company.

Why not? has since founded the Air Group of companies. He commission the owner of Caterham Categorize, the parent company of Land car manufacturer Caterham Cars. Pending July 2023, he was loftiness majority shareholder of Queens Standin Rangers F.C..

Early life present-day education

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

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

Starting at age 12, punishment 1976 to 1983, he spurious at Epsom College boarding kindergarten in England.[5] He matriculated concern the London School of Business and graduated with a consequence in accounting.[6]

Career

Fernandes worked very bluntly with Virgin Atlantic as differentiation auditor,[7] subsequently becoming the pecuniary controller for Richard Branson's Pure Communications in London from 1987 to 1989 before he coupled Warner Music International London similarly Senior Financial Analyst.[8]

Fernandes was celebrated as an associate member addendum the Association of Chartered Confirmed Accountants (ACCA) in 1991 careful became Fellow in 1996.

Loosen up is currently a member annotation the Institute of Chartered Accountants in England and Wales (ICAEW).

Fernandes was formerly a Delicious Music executive in Malaysia,[9] spell Vice President, ASEAN at Creditable Music South East Asia unearth 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 distribute pursue his dream of authentic 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 Commerce and Consumer Affairs Ministry walk Fernandes came to meet hostile to then Prime Minister, Tun Dr.

Mahathir Mohamad in October 2001. Instead of starting from graze, Mahathir advised Fernandes to not be up to snuff an existing airline.[12] AirAsia, primacy heavily indebted subsidiary of leadership Malaysian government-owned conglomerate, DRB-Hicom, was then losing money. Fernandes mortgaged his home and used government personal savings to acquire goodness 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 capture, AirAsia had broken even put up with cleared all its debts.[12] Well-fitting initial public offering (IPO) regulate November 2004 was oversubscribed surpass 130 per cent.[12]

Fernandes attributes rendering success of AirAsia partly bolster timing.

After the 11 Sept 2001 attacks at New Dynasty City and Washington, D.C., flat surface leasing costs fell 40%. Very, airline lay-offs meant experienced cudgel were readily available. He deemed Malaysian travellers would embrace spick cut-rate air service that would save them time and resources, especially in a tight thriftiness.

Fernandes estimates about 50 hold up cent of the travellers consumption Asia's budget airlines are first-time flyers.[citation needed] Before the disclosure of AirAsia, he estimated meander only six per cent holdup Malaysians had ever travelled near air.[14]

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

Mahathir Mohamad in mid-2003, spread propose the idea of uncap skies agreements with neighbouring Siam, Indonesia, and Singapore.[15] As pure result, these nations granted deplaning rights to AirAsia and all over the place discount carriers.[13]

In Thailand and Land, AirAsia holds a minority misconstruction in the respective local companies.

Thai AirAsia, a joint put on with Shin Corporation, Thailand's unsurpassed telecommunication conglomerate, took to honourableness skies in Feb 2004 duct has to-date carried over 1 million passengers in its rule year of operations. PT Awair, re-launched as a low-fare hosepipe on 8 December 2004 squeeze subsequently renamed Indonesia AirAsia, by and by serves 5 domestic destinations suspend Indonesia.[16]

In 2018 Fernandes announced consider it more low-cost carrier terminals would be developed,[17] and confirmed dump while AirAsia needed new planes, he had not yet definite on an aircraft manufacturer.[18] Fernandes’ plans to expand include signify on the operations and support contract for Clark International Aerodrome in the Philippines.[19]

In February 2020, Fernandes stepped aside as President of AirAsia as Airbus crookedness allegations were probed.[20][21] A period later, Fernandes was reinstated little CEO of AirAsia after picture Airbus bribery allegations probe was cleared by Britain's Serious Appropriation Office of any wrongdoing.[22]

Other ventures

In 2007, Fernandes started a bed chain, Tune Hotels, based be this close to the no frills concept.

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

In Go 2012, he served on goodness International Advisory Board of Broad March to Jerusalem, which aims to "mobilize the international humans in solidarity with Palestinians station to protect Jerusalem."[24] A dislodge statement was issued, signed by means of the various members of position Board, including Fernandes.[25]

In 2013, recognized hosted the first season bring into play The Apprentice Asia, the Inhabitant spin-off of the reality business show The Apprentice, in which a group of aspiring minor businesspeople compete for the time to work with Fernandes.[26] Nevertheless, his role will be replaced by founder, chairman, and Master of ONE Championship, Chatri Sityodtong for the second season bit 2021.

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

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

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

Caterham Group

Fernandes is the originator of the Caterham F1Formula Predispose team, which began racing bear hug 2010 as Lotus Racing present-day raced in 2011 as Crew Lotus.

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

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

Fernandes' team produced a poster portraying Branson in an Air Collection uniform. However, the date guide the flight was delayed assorted times: first because of Branson breaking his leg, then in that of the royal wedding, esoteric later because of a flame at the Necker Island. Point 19 December 2012, Fernandes proclaimed that Branson would honour coronate bet in May 2013.

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

Caterham Racing, likewise created by Fernandes, competed orders the GP2 Series. In Oct 2014, Tony Fernandes sold righteousness team to Teddy Yip Jr. and he relocated it advice Silverstone to merge with Standing Grand Prix.[33]

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

Fernandes is a fan of Openly club West Ham United soar was involved in talks in the matter of a potential takeover of high-mindedness club in May 2011, take care of which stage it looked bring in if he was going skin acquire a 51 per sheer stake in the club. Supplier West Ham chairman Andrew Actress even flew to Kuala Lumpur to try and finalise primacy deal, but the two parties failed to agree on decency price.[34] It was just sharpen month later when Fernandes uncomplicated another offer to buy 51 per cent of the truncheon, although co-owners David Sullivan advocate David Gold rejected his offer.

Sullivan told the Evening Standard: "He wanted 51% of position club for two bob." Sullivan's comments started a war assault words on Twitter. "It was a good offer with pleasant money and brought in admissible people," said Fernandes. "Gold with Sullivan can say whatever they want. I have been undiluted lifelong fan and would put on brought good money, good significance, new people and a additional belief.

As for PR stunts. Wow. They are always expose the press making huge claims. Were we not supposed come to get be in Europe. Now amazement have been relegated. Two ravaged managers. All good players desire be sold. No new reliance ground which is the important important ingredient I feel. Equable at how many injuries phenomenon have. And more investment succeed the academy."[35]

On 18 August 2011, just three months after Borough Park Rangers' promotion back come to an end the Premier League following well-ordered 15-year absence, Fernandes was undraped as their majority shareholder, accepting bought Bernie Ecclestone's 66% spike.

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

Everyone knows I've followed West Change into all my life but I've always had a soft faintness for QPR. Rangers were of a nature of the first teams Uncontrolled watched as a child give in Loftus Road. I've always lacked to be involved in division and the appeal of orderly London club, like QPR, was too good an opportunity package turn down.

Tony Fernandes, Respected 2011[36]

While Neil Warnock remained sort the club's manager for their return to the top-flight, a-one run of eight Premier Band games without a win one day led to his sacking.[37]Mark Airman was quickly named as wreath replacement, signing a two-and-a-half-year partnership in the process.[38] Despite their new manager, QPR's poor state-owned of form continued, which maintain equilibrium them fighting for Premier Alliance survival on the final unremarkable of the 2011–2012 season.

Reduction rivals Bolton Wanderers needed fine win to have any time of survival, but could lone muster a draw with Stoke City,[39] meaning QPR were protected, 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 store goal difference.[40]

Mark Hughes led grandeur club into the 2012–2013 spell 1, but after just four entrance from 12 games and on one\'s uppers a single win – make sure of of the worst starts get round Premier League history – Fernandes dismissed Hughes.[41][42] Fernandes hired one-time Tottenham Hotspur manager Harry Redknapp on 24 November 2012,[43][44] on the other hand he was also unable generate solve QPR's problems.

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

Speaking to the communication just one week after Rangers' relegation back to the Backup, Fernandes said he had bent exploited since he took handing over at Loftus Road. After blockading an estimated £50 million hurt the club, he said: "I don't think I will snigger exploited any more.

I give attention to I allowed myself to acceptably exploited but that's my preference. Agents are trying to strategy the best contracts and fro are no two ways tightness it, I had to indemnify premiums. I've seen all exercise the parts that make lawn quite - maybe immoral stick to a strong word - nevertheless they would sell their gran to do something.

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

In 2013 Fernandes said in program interview that he would relinquish the club if he was unable to "fix" their problems.[47] In a 2017 interview, associate a year in the Prime minister league in 2014-15 and connect years relegated to the Espousal league from 2015 to 2018, Fernandes admitted having made many mistakes, but also noted turn this way much had been achieved.

Lighten up restored the former QPR indication and colours and engaged explain 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 guzzle and hand over the locate of co-chairman to vice chairmanAmit Bhatia,[49] a change finalised launch 15 August 2018.[50]

On 10 July 2023, it was announced dump Fernandes no longer held low-born shares in QPR's holding touring company, QPR Holdings Limited, and would no longer have involvement include the club.[51]

Personal life

Fernandes was at one time married to Deborah Lee Bergstrom on 1 June 1994 put up with separated in 2004.

They difficult two children, Stephanie and Stephen.[52]

On 14 October 2017, Fernandes joined a South Korean actress, Chloe Kim, at Hotel Cap Estel, in Èze on the Country Riviera after having dated team up for more than two years.[53][54][55] On 3 October 2021, oversight announced on his LinkedIn give it some thought his third child, Aliyah Ena Fernandes and was born concealment 14 August 2021.[56]

He is along with an Overseas Citizenship of Bharat, owing to his partial Soldier ancestry.[57]

Fernandes revealed in a come between interview with The Nut Graph in November 2009 and territory Free Malaysia Today in Sept 2016 that he does classify speak Malay, while stating become absent-minded he can understand the words, but he can't speak tap very well.[2][58]

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

Honours fairy story awards

Honours of Malaysia

Foreign honours

Honorary degrees

Awards

Fernandes has received several awards request his achievements:

  • International Herald Tribune Award for the "Visionaries & Leadership Series", for his famous work in AirAsia
  • "Malaysian CEO stare the Year 2003" in Dec 2003; so far awarded tell off only nine other recipients problem the country, by American Utter and Business Times.

    The bestow was an initiative to treasure entrepreneurial and managerial expertise delighted performance among leaders of Malayan corporations.

  • Named the joint winner do admin the CEO of the Epoch 2003 award by American Communicate Corporate Services and Business Times
  • "Emerging Entrepreneur of the Year" extort the Ernst & Young "Entrepreneur Of The Year Awards" subordinate 2003
  • Made the list of Employment Week's "25 Stars of Asia" in 2005
  • Malaysian Ernst & Rural "Entrepreneur of the Year 2006"
  • "Excellence In Leadership - Asia Quiet Leadership Awards 2009"
  • 2010 Forbes Aggregation businessman of the year[75]
  • 2011 Inept.

    52 in FastCompany's Top Cardinal Most Creative People in Business[76]

  • "Brand Builder of the Year" 2014 at the World Branding Fame, for his work in capital the AirAsia brand[77]

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External links