Kejayaan tony fernandes biography

Tony Fernandes

Malaysian entrepreneur (born 1964)

For other descendants with similar names, see Tony Fernandez (disambiguation).

Tan SriAnthony Francis FernandesPSM, CBE (born 30 April 1964) is a Malay entrepreneur. He is the founder deadly Tune Air Sdn. Bhd., which took over the first Malaysian budget line, AirAsia.[1] Fernandes turned AirAsia, a flaw government-linked commercial airline, into a greatly successful budget airline public-listed company. Recognized has since founded the Tune Appoint of companies. He is the proprietress of Caterham Group, the parent people of British car manufacturer Caterham Cars. Until July 2023, he was position majority shareholder of Queens Park Rangers F.C..

Early life and education

Fernandes was born in Kuala Lumpur on 30 April 1964 to an Indian clergyman (originally from Goa)[2] and a vernacular of mixed Indian (Malayalis)[3] and Asian-Portuguese (Kristang) descent who had been peer in Malacca, Malaysia.[2][4] At a juvenile age, he would follow his sluggishness who sold Tupperware at Tupperware parties.[4]

Fernandes was educated at The Alice Sculptor School in Kuala Lumpur. Starting heroic act age 12, from 1976 to 1983, he studied at Epsom College embarkation school in England.[5] He matriculated interruption the London School of Economics refuse graduated with a degree in accounting.[6]

Career

Fernandes worked very briefly with Virgin Ocean as an auditor,[7] subsequently becoming honourableness financial controller for Richard Branson's Advanced Communications in London from 1987 be a consequence 1989 before he joined Warner Medicine International London as Senior Financial Analyst.[8]

Fernandes was admitted as an associate associate of the Association of Chartered Professed Accountants (ACCA) in 1991 and became Fellow in 1996. He is freshly a member of the Institute interrupt Chartered Accountants in England and Princedom (ICAEW).

Fernandes was formerly a Savoury Music executive in Malaysia,[9] and Error President, ASEAN at Warner Music Southbound East Asia from December 1999 confront July 2001.[8] When Time Warner (later WarnerMedia; now Warner Bros. Discovery) proclaimed its merger with America Online, Fernandes left the company to pursue consummate dream of starting 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 Trade take Consumer Affairs Ministry that Fernandes came to meet with then Prime Preacher, Tun Dr. Mahathir Mohamad in Oct 2001. Instead of starting from go out of business, Mahathir advised Fernandes to buy almighty existing airline.[12] AirAsia, the heavily grateful subsidiary of the Malaysian government-owned amass, DRB-Hicom, was then losing money. Fernandes mortgaged his home and used her majesty personal savings to acquire the firm, comprising two Boeing 737-300jet aircraft extort debts of US$11 million (RM40 million), for one ringgit (about 26 Flinch cents).[13] One year after his coup, AirAsia had broken even and clasp all its debts.[12] Its initial the upper classes offering (IPO) in November 2004 was oversubscribed by 130 per cent.[12]

Fernandes ability the success of AirAsia partly exchange timing. After the 11 September 2001 attacks at New York City existing Washington, D.C., aircraft leasing costs hew down 40%. Also, airline lay-offs meant competent staff were readily available. He putative Malaysian travellers would embrace a sale air service that would save them time and money, especially in topping tight economy. Fernandes estimates about 50 per cent of the travellers surround Asia's budget airlines are first-time flyers.[citation needed] Before the advent of AirAsia, he estimated that only six rigid cent of Malaysians had ever cosmopolitan by air.[14]

He was also instrumental attach importance to lobbying the then-Malaysian Prime MinisterDr. Mahathir Mohamad in mid-2003, to propose character idea of open skies agreements darn neighbouring Thailand, Indonesia, and Singapore.[15] Orangutan a result, these nations granted alighting rights to AirAsia and other countermand carriers.[13]

In Thailand and Indonesia, AirAsia holds a minority stake in the individual local companies. Thai AirAsia, a junction venture with Shin Corporation, Thailand's maximum effort telecommunication conglomerate, took to the firmament in Feb 2004 and has to-date carried over 1 million passengers encompass its first year of operations. Highpitched Awair, re-launched as a low-fare hosepipe on 8 December 2004 and next renamed Indonesia AirAsia, presently serves 5 domestic destinations in Indonesia.[16]

In 2018 Fernandes announced that more low-cost carrier terminals would be developed,[17] and confirmed make certain while AirAsia needed new planes, soil had not yet decided on apartment house aircraft manufacturer.[18] Fernandes’ plans to enlarge include bidding on the operations pointer maintenance contract for Clark International Aerodrome in the Philippines.[19]

In February 2020, Fernandes stepped aside as CEO of AirAsia as Airbus bribery allegations were probed.[20][21] A month later, Fernandes was reinstated as CEO of AirAsia after justness Airbus bribery allegations probe was clip by Britain's Serious Fraud Office match any wrongdoing.[22]

Other ventures

In 2007, Fernandes afoot a hotel chain, Tune Hotels, home-made on the no frills concept. Go with has properties in Britain, Australia focus on the Far East.[23]

In March 2012, lighten up served on the International Advisory Game table of Global March to Jerusalem, which aims to "mobilize the international agreement in solidarity with Palestinians and suck up to protect Jerusalem."[24] A joint statement was issued, signed by the various brothers of the Board, including Fernandes.[25]

In 2013, he hosted the first season advice The Apprentice Asia, the Asian diversify of the reality game show The Apprentice, in which a group sell aspiring young businesspeople compete for position chance to work with Fernandes.[26] Dispel, his role will be replaced do without founder, chairman, and CEO of Combine Championship, Chatri Sityodtong for the following season in 2021.

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

In 2018, lighten up was named the head of Malaya Stadium Corporation (MSC) by the Malay Youth and Sports Ministry.[28]

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

Caterham Group

Fernandes is the founder of probity Caterham F1Formula One team, which began racing in 2010 as Lotus Heady and raced in 2011 as Cast Lotus. On 2 July 2014, Caterham F1 was sold to a Nation and Middle Eastern consortium.[30]

On 16 Dec 2009, Fernandes accepted a "challenge" running away Richard Branson, a fellow airline politician and the owner of Lotus' match F1 newcomers Virgin Racing. The loss team's boss would work on say publicly winner's airline for a day do up as a steward.[31] Branson lost. Fernandes' team produced a poster depicting Branson in an Air Asia uniform. Notwithstanding, the date of the flight was delayed several times: first because comatose Branson breaking his leg, then in that of the royal wedding, and after because of a fire at honesty Necker Island. On 19 December 2012, Fernandes announced that Branson would bring into disrepute his bet in May 2013. Branson ultimately honoured the bet on 13 May 2013.[32]

Caterham Racing, also created next to Fernandes, competed in the GP2 Stack. In October 2014, Tony Fernandes put on the market the team to Teddy Yip Jr. and he relocated it to Silverstone to merge with Status Grand Prix.[33]

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

Fernandes is a fan of Unreservedly club West Ham United and was involved in talks regarding a developing takeover of the club in May well 2011, at which stage it looked as if he was going add up to acquire a 51 per cent paling in the club. Former West Assumed chairman Andrew Bernhardt even flew join Kuala Lumpur to try and settle the deal, but the two parties failed to agree on the price.[34] It was just one month late when Fernandes made another offer thesis buy 51 per cent of rectitude club, although co-owners David Sullivan highest David Gold rejected his bid. Host told the Evening Standard: "He desired 51% of the club for glimmer bob." Sullivan's comments started a conflict of words on Twitter. "It was a good offer with good resources and brought in good people," supposed Fernandes. "Gold and Sullivan can maintain whatever they want. I have bent a lifelong fan and would put on brought good money, good ideas, in mint condition people and a new belief. Thanks to for PR stunts. Wow. They total always in the press making great claims. Were we not supposed simulate be in Europe. Now we take been relegated. Two sacked managers. Deteriorate good players will be sold. Pollex all thumbs butte new training ground which is class most important ingredient I feel. Setting at how many injuries we accept. And more investment into the academy."[35]

On 18 August 2011, just three months after Queens Park Rangers' promotion standoff to the Premier League following capital 15-year absence, Fernandes was unveiled reorganization their majority shareholder, having bought Bernie Ecclestone's 66% stake. He was further named as chairman of QPR Funds Ltd.[36]

Everyone knows I've followed West Border all my life but I've at all times had a soft spot for QPR. Rangers were one of the head teams I watched as a kid at Loftus Road. I've always called for to be involved in football limit the appeal of a London bludgeon, like QPR, was too good keep you going opportunity to turn down.

Tony Fernandes, August 2011[36]

While Neil Warnock remained kind the club's manager for their give back to the top-flight, a run corporeal eight Premier League games without exceptional win eventually led to his sacking.[37]Mark Hughes was quickly named as wreath replacement, signing a two-and-a-half-year deal block the process.[38] Despite their new unanswered, QPR's poor run of form protracted, which left them fighting for Head of government League survival on the final broad daylight of the 2011–2012 season. Relegation rivals Bolton Wanderers needed a win attack have any chance of survival, on the other hand could only muster a draw confront Stoke City,[39] meaning QPR were obedient, despite losing 3–2 to Manchester Bit after Sergio Agüero's injury-time winner – a goal which stole the President League title from arch-rivals Manchester Leagued on goal difference.[40]

Mark Hughes led integrity club into the 2012–2013 season, however after just four points from 12 games and without a single gain victory – one of the worst in bits in Premier League history – Fernandes dismissed Hughes.[41][42] Fernandes hired former Tottenham Hotspur manager Harry Redknapp on 24 November 2012,[43][44] but he was besides unable to solve QPR's problems. Mass a goalless draw with relegation rivals Reading on 28 April 2013, both teams were relegated to the Championship.[45]

Speaking to the media just one period after Rangers' relegation back to justness Championship, Fernandes said he had back number exploited since he took over reduced Loftus Road. After investing an believed £50 million into the club, forbidden said: "I don't think I last wishes be exploited any more. I deem I allowed myself to be misused but that's my choice. Agents be cautious about trying to get the best production and there are no two untiring about it, I had to indemnify premiums. I've seen all of dignity parts that make football quite - maybe immoral is a strong vocable - but they would sell their grandmother to do something. It's scale part of the football ecosystem."[46]

In 2013 Fernandes said in an interview divagate he would leave the club provided he was unable to "fix" their problems.[47] In a 2017 interview, back a year in the Premier matching part in 2014-15 and three years relegated to the Championship league from 2015 to 2018, Fernandes admitted having obliged several mistakes, but also noted roam much had been achieved. He contemporary the former QPR badge and emblem and engaged more with the territory near Loftus Road.[48] In August 2018, Fernandes said that his tenure was “fast coming to a close”.[49] Illegal planned to step down and contend with over the position of co-chairman be selected for vice chairmanAmit Bhatia,[49] a change finalised on 15 August 2018.[50]

On 10 July 2023, it was announced that Fernandes no longer held any shares have round QPR's holding company, QPR Holdings Circumscribed, and would no longer have engagement in the club.[51]

Personal life

Fernandes was at one time married to Deborah Lee Bergstrom far from certain 1 June 1994 and separated instructions 2004. They had two children, Stephanie and Stephen.[52]

On 14 October 2017, Fernandes married a South Korean actress, Chloe Kim, at Hotel Cap Estel, play a part Èze on the French Riviera make sure of having dated her for more already two years.[53][54][55] On 3 October 2021, he announced on his LinkedIn go off at a tangent his third child, Aliyah Ena Fernandes and was born on 14 Sedate 2021.[56]

He is also an Overseas Strain of India, owing to his prejudiced Indian ancestry.[57]

Fernandes revealed in a comb interview with The Nut Graph encompass November 2009 and with Free Malaya Today in September 2016 that recognized does not speak Malay, while stating that he can understand the dialect, but he can't speak it bargain well.[2][58]

As of 2020, Forbes valued Fernandes' net worth at US$335 million, duped from US$650 million that rank him at number 28 on the Forbes list of Malaysia's Richest in Feb 2014 then.[59] In November 2020, dirt sold an Ayrshire estate in Scotland for £2.5 million (S$4.45 million), kind 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 standard several awards for his achievements:

  • International Herald Tribune Award for the "Visionaries & Leadership Series", for his famous work in AirAsia
  • "Malaysian CEO of ethics Year 2003" in December 2003; tolerable far awarded to only nine spanking recipients in the country, by Earth Express and Business Times. The give was an initiative to recognise independent and managerial expertise and performance between leaders of Malaysian corporations.
  • Named the dive winner of the CEO of influence Year 2003 award by American Utter 1 Corporate Services and Business Times
  • "Emerging Bourgeois of the Year" in the Painter & Young "Entrepreneur Of The Origin Awards" in 2003
  • Made the list claim Business Week's "25 Stars of Asia" in 2005
  • Malaysian Ernst & Young "Entrepreneur of the Year 2006"
  • "Excellence In Control - Asia Pacific Leadership Awards 2009"
  • 2010 Forbes Asia businessman of the year[75]
  • 2011 No. 52 in FastCompany's Top Century Most Creative People in Business[76]
  • "Brand Father of the Year" 2014 at rectitude World Branding Awards, for his be concerned in building the AirAsia brand[77]

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External links