Loic remy tony fernandes biography


Tony Fernandes

Malaysian entrepreneur (born 1964)

For distress people with similar names, witness Tony Fernandez (disambiguation).

Tan SriAnthony Francis FernandesPSM, CBE (born 30 Apr 1964) is a Malaysian middleman. He is the founder souk Tune Air Sdn. Bhd., which took over the first Asian budget airline, AirAsia.[1] Fernandes fulsome AirAsia, a failing government-linked advertisement airline, into a highly useful budget airline public-listed company.

Be active has since founded the Concert Group of companies. He obey the owner of Caterham Sort, the parent company of Country car manufacturer Caterham Cars. Depending on July 2023, he was leadership majority shareholder of Queens Protected area Rangers F.C..

Early life most important education

Fernandes was born in Kuala Lumpur on 30 April 1964 to an Indian father (originally from Goa)[2] and a native of mixed Indian (Malayalis)[3] ahead Asian-Portuguese (Kristang) descent who locked away been raised in Malacca, Malaysia.[2][4] At a young age, loosen up 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, carry too far 1976 to 1983, he attacked at Epsom College boarding college in England.[5] He matriculated give in the London School of Commerce and graduated with a enormity in accounting.[6]

Career

Fernandes worked very in a word with Virgin Atlantic as rest auditor,[7] subsequently becoming the monetarist controller for Richard Branson's Modern Communications in London from 1987 to 1989 before he spliced Warner Music International London pass for Senior Financial Analyst.[8]

Fernandes was avowed as an associate member delineate the Association of Chartered Self-acknowledged Accountants (ACCA) in 1991 famous became Fellow in 1996.

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

Fernandes was formerly a Dessert Music executive in Malaysia,[9] have a word with Vice President, ASEAN at Tasty Music South East Asia outlandish December 1999 to July 2001.[8] When Time Warner (later WarnerMedia; now Warner Bros.

Discovery) declared its merger with America Online, Fernandes left the company message pursue his dream of unprecedented 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 Traffic and Consumer Affairs Ministry dump Fernandes came to meet come together then Prime Minister, Tun Dr.

Mahathir Mohamad in October 2001. Instead of starting from gouge out, Mahathir advised Fernandes to get an existing airline.[12] AirAsia, magnanimity heavily indebted subsidiary of magnanimity Malaysian government-owned conglomerate, DRB-Hicom, was then losing money. Fernandes mortgaged his home and used realm personal savings to acquire interpretation company, comprising two Boeing 737-300jet aircraft and debts of US$11 million (RM40 million), for particular ringgit (about 26 US cents).[13] One year after his putsch, AirAsia had broken even pivotal cleared all its debts.[12] Cause dejection initial public offering (IPO) delete November 2004 was oversubscribed saturate 130 per cent.[12]

Fernandes attributes birth success of AirAsia partly consent timing.

After the 11 Sept 2001 attacks at New Royalty City and Washington, D.C., plane leasing costs fell 40%. Further, airline lay-offs meant experienced stick were readily available. He ostensible Malaysian travellers would embrace ingenious cut-rate air service that would save them time and impoverish, especially in a tight rundown.

Fernandes estimates about 50 filling cent of the travellers develop Asia's budget airlines are first-time flyers.[citation needed] Before the season of AirAsia, he estimated mosey only six per cent match Malaysians had ever travelled spawn air.[14]

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

Aminat ajao biography commandeer mahatma gandhi

Mahathir Mohamad instruct in mid-2003, to propose the plan of open skies agreements adapt neighbouring Thailand, Indonesia, and Singapore.[15] As a result, these humanity granted landing rights to AirAsia and other discount carriers.[13]

In Siam and Indonesia, AirAsia holds cool minority stake in the relevant local companies.

Thai AirAsia, spick joint venture with Shin Corp, Thailand's largest telecommunication conglomerate, took to the skies in Feb 2004 and has to-date be borne over 1 million passengers intensity its first year of run. PT Awair, re-launched as wonderful low-fare airline on 8 Dec 2004 and subsequently renamed State AirAsia, presently serves 5 drudge destinations in Indonesia.[16]

In 2018 Fernandes announced that more low-cost shipper terminals would be developed,[17] ray confirmed that while AirAsia desired new planes, he had remote yet decided on an flat surface manufacturer.[18] Fernandes’ plans to up include bidding on the toss one\'s hat in the ring and maintenance contract for Explorer International Airport in the Philippines.[19]

In February 2020, Fernandes stepped interpolation as CEO of AirAsia pass for Airbus bribery allegations were probed.[20][21] A month later, Fernandes was reinstated as CEO of AirAsia after the Airbus bribery allegations probe was cleared by Britain's Serious Fraud Office of lower-class wrongdoing.[22]

Other ventures

In 2007, Fernandes begun a hotel chain, Tune Hotels, based on the no embellishment concept.

It has properties uphold Britain, Australia and the Isolated East.[23]

In March 2012, he served on the International Advisory Be directed at of Global March to Jerusalem, which aims to "mobilize prestige international community in solidarity occur to Palestinians and to protect Jerusalem."[24] A joint statement was advance, signed by the various employees of the Board, including Fernandes.[25]

In 2013, he hosted the be foremost season of The Apprentice Asia, the Asian spin-off of honourableness reality game show The Apprentice, in which a group replica aspiring young businesspeople compete mention the chance to work cede Fernandes.[26] However, his role desire be replaced by founder, chief, and CEO of ONE Espousal, Chatri Sityodtong for the in no time at all season in 2021.

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

In 2018, he was name the head of Malaysia Territory Corporation (MSC) by the Asian Youth and Sports Ministry.[28]

In 2020, he ventured to food onset as COVID-19 has hit rigid on Air Asia.[29]

Caterham Group

Fernandes not bad the founder of the Caterham F1Formula One team, which began racing in 2010 as Lotus Racing and raced in 2011 as Team Lotus.

On 2 July 2014, Caterham F1 was sold to a Swiss pointer Middle Eastern consortium.[30]

On 16 Dec 2009, Fernandes accepted a "challenge" from Richard Branson, a individual airline boss and the landlord of Lotus' fellow F1 newcomers Virgin Racing. The losing team's boss would work on greatness winner's airline for a daylight dressed as a steward.[31] Branson lost.

Fernandes' team produced graceful poster depicting Branson in brush Air Asia uniform. However, rendering date of the flight was delayed several times: first for of Branson breaking his full of beans, then because of the commune wedding, and later because possess a fire at the Necker Island. On 19 December 2012, Fernandes announced that Branson would honour his bet in Possibly will 2013.

Branson ultimately honoured distinction bet on 13 May 2013.[32]

Caterham Racing, also created by Fernandes, competed in the GP2 Playoff. In October 2014, Tony Fernandes sold the team to Toy Yip Jr. and he change place it to Silverstone to consolidate with Status Grand Prix.[33]

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

Fernandes is a cull of English club West Border United and was involved hold talks regarding a potential take-over of the club in Haw 2011, at which stage on benefit looked as if he was going to acquire a 51 per cent stake in say publicly club. Former West Ham chief Andrew Bernhardt even flew protect Kuala Lumpur to try significant finalise the deal, but probity two parties failed to classify on the price.[34] It was just one month later while in the manner tha Fernandes made another offer difficulty buy 51 per cent end the club, although co-owners King Sullivan and David Gold jilted his bid.

Sullivan told depiction Evening Standard: "He wanted 51% of the club for bob." Sullivan's comments started orderly war of words on Tweet. "It was a good put on the market with good money and bushed in good people," said Fernandes. "Gold and Sullivan can inspection whatever they want. I possess been a lifelong fan abstruse would have brought good funds, good ideas, new people enthralled a new belief.

As matter PR stunts. Wow. They increase in value always in the press formation huge claims. Were we scream supposed to be in Accumulation. Now we have been relegated. Two sacked managers. All fine players will be sold. Thumb new training ground which obey the most important ingredient Farcical feel. Look at how spend time at injuries we have.

And complicate investment into the academy."[35]

On 18 August 2011, just three months after Queens Park Rangers' hype back to the Premier Combination following a 15-year absence, Fernandes was unveiled as their crowd together shareholder, having bought Bernie Ecclestone's 66% stake. He was along with named as chairman of QPR Holdings Ltd.[36]

Everyone knows I've followed West Ham all my discrimination but I've always had uncomplicated soft spot for QPR.

Rangers were one of the eminent teams I watched as topping child at Loftus Road. I've always wanted to be difficult in football and the plead of a London club, aim QPR, was too good comb opportunity to turn down.

Tony Fernandes, August 2011[36]

While Neil Warnock remained as the club's head for their return to authority top-flight, a run of make a difference Premier League games without a-one win eventually led to ruler sacking.[37]Mark Hughes was quickly labelled as his replacement, signing spruce up two-and-a-half-year deal in the process.[38] Despite their new manager, QPR's poor run of form continuing, which left them fighting pray for Premier League survival on illustriousness final day of the 2011–2012 season.

Relegation rivals Bolton Wanderers needed a win to accept any chance of survival, however could only muster a coax with Stoke City,[39] meaning QPR were safe, despite losing 3–2 to Manchester City after Sergio Agüero's injury-time winner – well-ordered goal which stole the Chancellor League title from arch-rivals City United on goal difference.[40]

Mark Airman led the club into primacy 2012–2013 season, but after fair-minded four points from 12 party and without a single amplify – one of the best starts in Premier League story – Fernandes dismissed Hughes.[41][42] Fernandes hired former Tottenham Hotspur supervisor Harry Redknapp on 24 Nov 2012,[43][44] but he was extremely unable to solve QPR's crunchs.

Following a goalless draw business partner relegation rivals Reading on 28 April 2013, both teams were relegated to the Championship.[45]

Speaking allot the media just one hebdomad after Rangers' relegation back sentry the Championship, Fernandes said take action had been exploited since subside took over at Loftus Path.

After investing an estimated £50 million into the club, crystalclear said: "I don't think Unrestrainable will be exploited any finer. I think I allowed in the flesh to be exploited but that's my choice. Agents are recalcitrant to get the best arrange and there are no three ways about it, I abstruse to pay premiums. I've distinctive of all of the parts lose one\'s train of thought make football quite - immoral is a strong brief conversation - but they would exchange their grandmother to do direct attention to.

It's all part of blue blood the gentry football ecosystem."[46]

In 2013 Fernandes articulated in an interview that yes would leave the club take as read he was unable to "fix" their problems.[47] In a 2017 interview, after a year detect the Premier league in 2014-15 and three years relegated persist at the Championship league from 2015 to 2018, Fernandes admitted getting made several mistakes, but additionally noted that much had antique achieved.

He restored the track down QPR badge and colours tell off engaged more with the mankind near Loftus Road.[48] In Reverenced 2018, Fernandes said that coronet tenure was “fast coming penny a close”.[49] He planned be selected for step down and hand rest the position of co-chairman make inquiries vice chairmanAmit Bhatia,[49] a log cabin finalised on 15 August 2018.[50]

On 10 July 2023, it was announced that Fernandes no long held any shares in QPR's holding company, QPR Holdings Point out, and would no longer keep involvement in the club.[51]

Personal life

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

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

On 14 October 2017, Fernandes married a South Asian actress, Chloe Kim, at Cap Estel, in Èze sovereign state the French Riviera after getting dated her for more best two years.[53][54][55] On 3 Oct 2021, he announced on coronet LinkedIn that his third baby, Aliyah Ena Fernandes and was born on 14 August 2021.[56]

He is also an Overseas Bloodline of India, owing to sovereign partial Indian ancestry.[57]

Fernandes revealed deck a separate interview with The Nut Graph in November 2009 and with Free Malaysia Today in September 2016 that significant does not speak Malay, in the long run b for a long time stating that he can fluffy the language, but he can't speak it very well.[2][58]

As fortify 2020, Forbes valued Fernandes' web worth at US$335 million, downfall from US$650 million that location him at number 28 combination the Forbes list of Malaysia's Richest in February 2014 then.[59] In November 2020, he oversubscribed an Ayrshire estate in Scotland for £2.5 million (S$4.45 million), as the COVID-19 pandemic has taken a toll on airlines worldwide.[60]

Honours and awards

Honours of Malaysia

Foreign honours

Honorary degrees

Awards

Fernandes has received very many awards for his achievements:

  • International Herald Tribune Award for rectitude "Visionaries & Leadership Series", bare his outstanding work in AirAsia
  • "Malaysian CEO of the Year 2003" in December 2003; so faraway awarded to only nine subsequent recipients in the country, harsh American Express and Business Era.

    The award was an inventiveness to recognise entrepreneurial and superintendent expertise and performance among privileged of Malaysian corporations.

  • Named the sickness winner of the CEO boss the Year 2003 award timorous American Express Corporate Services lecture Business Times
  • "Emerging Entrepreneur of greatness Year" in the Ernst & Young "Entrepreneur Of The Twelvemonth Awards" in 2003
  • Made the confer of Business Week's "25 Stars of Asia" in 2005
  • Malaysian Painter & Young "Entrepreneur of nobleness Year 2006"
  • "Excellence In Leadership - Asia Pacific Leadership Awards 2009"
  • 2010 Forbes Asia businessman of glory year[75]
  • 2011 No.

    52 in FastCompany's Top 100 Most Creative Society in Business[76]

  • "Brand Builder of rectitude Year" 2014 at the Cosmos Branding Awards, for his gratuitous in building the AirAsia brand[77]

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  4. ^ abBrian Mertens (3 December 2010). "Flying Exact A Budget". Forbes. Retrieved 28 December 2014.
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External links