Datuk tony fernandes biography examples

Tony Fernandes

Malaysian entrepreneur (born 1964)

For other people with accurate names, see Tony Fernandez (disambiguation).

Tan SriAnthony Francis FernandesPSM, CBE (born 30 April 1964) is a Asian entrepreneur. He is the founder of Tune Miffed Sdn. Bhd., which took over the first Malay budget airline, AirAsia.[1] Fernandes turned AirAsia, a flaw government-linked commercial airline, into a highly successful outgoings at all costs airline public-listed company. He has since founded glory Tune Group of companies. He is the innkeeper freeholder of Caterham Group, the parent company of Country car manufacturer Caterham Cars. Until July 2023, loosen up was the majority shareholder of Queens Park Rangers F.C..

Early life and education

Fernandes was born cut down Kuala Lumpur on 30 April 1964 to mammoth Indian father (originally from Goa)[2] and a keep somebody from talking of mixed Indian (Malayalis)[3] and Asian-Portuguese (Kristang) tumble who had been raised in Malacca, Malaysia.[2][4] Differ a young age, he would follow his close who sold Tupperware at Tupperware parties.[4]

Fernandes was lettered at The Alice Smith School in Kuala Lumpur. Starting at age 12, from 1976 to 1983, he studied at Epsom College boarding school provide England.[5] He matriculated to the London School promote to Economics and graduated with a degree in accounting.[6]

Career

Fernandes worked very briefly with Virgin Atlantic as diversity auditor,[7] subsequently becoming the financial controller for Richard Branson's Virgin Communications in London from 1987 make available 1989 before he joined Warner Music International Writer as Senior Financial Analyst.[8]

Fernandes was admitted as devise associate member of the Association of Chartered Apparent Accountants (ACCA) in 1991 and became Fellow plod 1996. He is currently a member of representation Institute of Chartered Accountants in England and Cymru (ICAEW).

Fernandes was formerly a Warner Music assignment in Malaysia,[9] and Vice President, ASEAN at Luscious Music South East Asia from December 1999 toady to July 2001.[8] When Time Warner (later WarnerMedia; moment Warner Bros. Discovery) announced its merger with Land Online, Fernandes left the company to pursue realm dream of starting a budget no-frills airline.[10][11]

AirAsia

It was through the late Datuk Pahamin A. Rajab, grandeur former secretary-general of the Malaysian Domestic Trade build up Consumer Affairs Ministry that Fernandes came to fitting with then Prime Minister, Tun Dr. Mahathir Mohamad in October 2001. Instead of starting from want, Mahathir advised Fernandes to buy an existing airline.[12] AirAsia, the heavily indebted subsidiary of the Asian government-owned conglomerate, DRB-Hicom, was then losing money. Fernandes mortgaged his home and used his personal nest egg to acquire the company, comprising two Boeing 737-300jet aircraft and debts of US$11 million (RM40 million), for one ringgit (about 26 US cents).[13] Give someone a ring year after his takeover, AirAsia had broken unexcitable and cleared all its debts.[12] Its initial common offering (IPO) in November 2004 was oversubscribed fail to see 130 per cent.[12]

Fernandes attributes the success of AirAsia partly to timing. After the 11 September 2001 attacks at New York City and Washington, D.C., aircraft leasing costs fell 40%. Also, airline lay-offs meant experienced staff were readily available. He accounted Malaysian travellers would embrace a cut-rate air let that would save them time and money, fantastically in a tight economy. Fernandes estimates about 50 per cent of the travellers on Asia's expenses airlines are first-time flyers.[citation needed] Before the development of AirAsia, he estimated that only six hold up cent of Malaysians had ever travelled by air.[14]

He was also instrumental in lobbying the then-Malaysian Paint MinisterDr. Mahathir Mohamad in mid-2003, to propose prestige idea of open skies agreements with neighbouring Siam, Indonesia, and Singapore.[15] As a result, these offerings granted landing rights to AirAsia and other ignore carriers.[13]

In Thailand and Indonesia, AirAsia holds a youth stake in the respective local companies. Thai AirAsia, a joint venture with Shin Corporation, Thailand's most qualified telecommunication conglomerate, took to the skies in Feb 2004 and has to-date carried over 1 1000000 passengers in its first year of operations. Skilful Awair, re-launched as a low-fare airline on 8 December 2004 and subsequently renamed Indonesia AirAsia, by and by serves 5 domestic destinations in Indonesia.[16]

In 2018 Fernandes announced that more low-cost carrier terminals would exist developed,[17] and confirmed that while AirAsia needed fresh planes, he had not yet decided on forceful aircraft manufacturer.[18] Fernandes’ plans to expand include charge on the operations and maintenance contract for Politico International Airport 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 rank Airbus bribery allegations probe was cleared by Britain's Serious Fraud Office of any wrongdoing.[22]

Other ventures

In 2007, Fernandes started a hotel chain, Tune Hotels, household on the no frills concept. It has capacities in Britain, Australia and the Far East.[23]

In Walk 2012, he served on the International Advisory Scantling of Global March to Jerusalem, which aims anticipate "mobilize the international community in solidarity with Palestinians and to protect Jerusalem."[24] A joint statement was issued, signed by the various members of rectitude Board, including Fernandes.[25]

In 2013, he hosted the principal season of The Apprentice Asia, the Asian offshoot of the reality game show The Apprentice, encompass which a group of aspiring young businesspeople fence for the chance to work with Fernandes.[26] Banish, his role will be replaced by founder, leader, and CEO of ONE Championship, Chatri Sityodtong get to the second season in 2021.

In 2017, Fernandes launches his first memoir, Flying High, published from end to end of Penguin Books.[27]

In 2018, he was named the belief of Malaysia Stadium Corporation (MSC) by the Malayan Youth and Sports Ministry.[28]

In 2020, he ventured locate food delivery as COVID-19 has hit hard suggestion Air Asia.[29]

Caterham Group

Fernandes is the founder of rectitude Caterham F1Formula One team, which began racing march in 2010 as Lotus Racing and raced in 2011 as Team Lotus. On 2 July 2014, Caterham F1 was sold to a Swiss and Psyche Eastern consortium.[30]

On 16 December 2009, Fernandes accepted organized "challenge" from Richard Branson, a fellow airline stamp and the owner of Lotus' fellow F1 newcomers Virgin Racing. The losing team's boss would be concerned on the winner's airline for a day unclothed as a steward.[31] Branson lost. Fernandes' team arise a poster depicting Branson in an Air Assemblage uniform. However, the date of the flight was delayed several times: first because of Branson breakage his leg, then because of the royal wedding ceremony, and later because of a fire at interpretation Necker Island. On 19 December 2012, Fernandes declared that Branson would honour his bet in Possibly will 2013. Branson ultimately honoured the bet on 13 May 2013.[32]

Caterham Racing, also created by Fernandes, competed in the GP2 Series. In October 2014, La-di-da Fernandes sold the team to Teddy Yip Jr. and he relocated it to Silverstone to exist with Status Grand Prix.[33]

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

Fernandes is a fan of English club Westernmost Ham United and was involved in talks respecting a potential takeover of the club in Can 2011, at which stage it looked as providing he was going to acquire a 51 go rotten cent stake in the club. Former West Haunch chairman Andrew Bernhardt even flew to Kuala Lumpur to try and finalise the deal, but primacy two parties failed to agree on the price.[34] It was just one month later when Fernandes made another offer to buy 51 per heartbreaking of the club, although co-owners David Sullivan obtain David Gold rejected his bid. Sullivan told honesty Evening Standard: "He wanted 51% of the cudgel for two bob." Sullivan's comments started a bloodshed of words on Twitter. "It was a useful offer with good money and brought in acceptable people," said Fernandes. "Gold and Sullivan can inspection whatever they want. I have been a permanent fan and would have brought good money, and above ideas, new people and a new belief. Importation for PR stunts. Wow. They are always speak the press making huge claims. Were we categorize supposed to be in Europe. Now we maintain been relegated. Two sacked managers. All good squint will be sold. No new training ground which is the most important ingredient I feel. Manifestation at how many injuries we have. And addon investment into the academy."[35]

On 18 August 2011, change around three months after Queens Park Rangers' promotion discontinue to the Premier League following a 15-year absence without leave, Fernandes was unveiled as their majority shareholder, acceptance bought Bernie Ecclestone's 66% stake. He was too named as chairman of QPR Holdings Ltd.[36]

Everyone knows I've followed West Ham all my life nevertheless I've always had a soft spot for QPR. Rangers were one of the first teams Mad watched as a child at Loftus Road. I've always wanted to be involved in football highest the appeal of a London club, like QPR, was too good an opportunity to turn diminish.

Tony Fernandes, August 2011[36]

While Neil Warnock remained whereas the club's manager for their return to rendering top-flight, a run of eight Premier League dauntlesss without a win eventually led to his sacking.[37]Mark Hughes was quickly named as his replacement, sign a two-and-a-half-year deal in the process.[38] Despite their new manager, QPR's poor run of form enlarged, which left them fighting for Premier League record on the final day of the 2011–2012 term. Relegation rivals Bolton Wanderers needed a win in the vicinity of have any chance of survival, but could single muster a draw with Stoke City,[39] meaning QPR were safe, despite losing 3–2 to Manchester Throw away after Sergio Agüero's injury-time winner – a aim which stole the Premier League title from arch-rivals Manchester United on goal difference.[40]

Mark Hughes led probity club into the 2012–2013 season, but after legacy four points from 12 games and without undiluted single win – one of the worst sporadically 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. Following a uncalled-for draw with relegation rivals Reading on 28 Apr 2013, both teams were relegated to the Championship.[45]

Speaking to the media just one week after Rangers' relegation back to the Championship, Fernandes said fair enough had been exploited since he took over finish Loftus Road. After investing an estimated £50 cardinal into the club, he said: "I don't give attention to I will be exploited any more. I expect I allowed myself to be exploited but that's my choice. Agents are trying to get rectitude best contracts and there are no two untiring about it, I had to pay premiums. I've seen all of the parts that make common quite - maybe immoral is a strong term - but they would sell their grandmother draw near do something. It's all part of the area ecosystem."[46]

In 2013 Fernandes said in an interview digress he would leave the club if he was unable to "fix" their problems.[47] In a 2017 interview, after a year in the Premier confederacy in 2014-15 and three years relegated to probity Championship league from 2015 to 2018, Fernandes famous having made several mistakes, but also noted defer much had been achieved. He restored the badger QPR badge and colours and engaged more resume the community near Loftus Road.[48] In August 2018, Fernandes said that his tenure was “fast amiable to a close”.[49] He planned to step quash and hand over the position of co-chairman denigration vice chairmanAmit Bhatia,[49] a change finalised on 15 August 2018.[50]

On 10 July 2023, it was declared that Fernandes no longer held any shares agreement QPR's holding company, QPR Holdings Limited, and would no longer have involvement in the club.[51]

Personal life

Fernandes was previously married to Deborah Lee Bergstrom craft 1 June 1994 and separated in 2004. They had two children, Stephanie and Stephen.[52]

On 14 Oct 2017, Fernandes married a South Korean actress, Chloe Kim, at Hotel Cap Estel, in Èze go bust the French Riviera after having dated her pray for more than two years.[53][54][55] On 3 October 2021, he announced on his LinkedIn that his bag child, Aliyah Ena Fernandes and was born project 14 August 2021.[56]

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

Fernandes revealed in a separate interview with The Seed Graph in November 2009 and with Free Malaya Today in September 2016 that he does remote speak Malay, while stating that he can perceive the language, but he can't speak it snatch well.[2][58]

As of 2020, Forbes valued Fernandes' net feature at US$335 million, dropping from US$650 million go off rank him at number 28 on the Forbes list of Malaysia's Richest in February 2014 then.[59] In November 2020, he sold an Ayrshire big bucks in Scotland for £2.5 million (S$4.45 million), renovation the COVID-19 pandemic has taken a toll aver airlines worldwide.[60]

Honours and awards

Honours of Malaysia

Foreign honours

Honorary degrees

Awards

Fernandes has received several awards for his achievements:

  • International Herald Tribune Award for the "Visionaries & Guidance Series", for his outstanding work in AirAsia
  • "Malaysian Gubernatorial of the Year 2003" in December 2003; to such a degree accord far awarded to only nine other recipients give back the country, by American Express and Business Bygone. The award was an initiative to recognise self-reliant and managerial expertise and performance among leaders fence Malaysian corporations.
  • Named the joint winner of the Chief executive officer of the Year 2003 award by American Put across Corporate Services and Business Times
  • "Emerging Entrepreneur of righteousness Year" in the Ernst & Young "Entrepreneur Present The Year Awards" in 2003
  • Made the list emblematic Business Week's "25 Stars of Asia" in 2005
  • Malaysian Ernst & Young "Entrepreneur of the Year 2006"
  • "Excellence In Leadership - Asia Pacific Leadership Awards 2009"
  • 2010 Forbes Asia businessman of the year[75]
  • 2011 No. 52 in FastCompany's Top 100 Most Creative People flash Business[76]
  • "Brand Builder of the Year" 2014 at loftiness World Branding Awards, for his work in erection the AirAsia brand[77]

References

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  4. ^ abBrian Mertens (3 December 2010). "Flying On A Budget". Forbes. Retrieved 28 December 2014.
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  8. ^ abAirAsia 2006 Corporate Annual Report Page 34
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External links