Career Tony_Fernandes

1 career

1.1 airasia
1.2 other ventures

1.2.1 caterham group
1.2.2 football

career

he worked briefly virgin atlantic auditor, subsequently becoming financial controller richard branson s virgin records in london 1987 1989.

fernandes admitted associate member of association of chartered certified accountants (acca) in 1991 , became fellow member in 1996. member of institute of chartered accountants in england , wales (icaew).

fernandes formerly warner music executive in malaysia. south east asian regional vice-president warner music group 1992 2001.

when time warner inc announced merger america online inc., fernandes left pursue dream of starting budget no-frills airline.

in september 2001, fernandes purchased airasia , became chief executive.

airasia

it through datuk pahamin a. rejab, former secretary-general of malaysian domestic trade , consumer affairs ministry fernandes came meet prime minister, tun dr. mahathir mohamad in october 2001.

instead of starting scratch, mahathir advised fernandes buy existing airline. airasia, heavily indebted subsidiary of malaysian government-owned conglomerate, drb-hicom, losing money. fernandes mortgaged home , used personal savings acquire company, comprising 2 boeing 737-300 jet aircraft , debts of us$11 million (rm40 million), 1 ringgit (about 26 cents), , transformed industry player. 1 year after takeover, airasia had broken , cleared debts. initial public offering (ipo) in november 2004 oversubscribed 130 per cent.

fernandes says timing in fact perfect: after 11 september 2001, aircraft leasing costs fell 40%. also, airline lay-offs meant experienced staff readily available. believed malaysian travellers embrace cut-rate air service save them time , money, in tight economy. fernandes estimates 50 per cent of travellers on asia’s budget airlines first-time flyers. before advent of airasia, estimated 6 per cent of malaysians had ever travelled air.

fernandes biggest achievement open countries within region new budget carriers, did not have open-skies agreements. result of fernandes lobbying in mid-2003, dr mahathir brought idea leaders neighbouring countries. nations subsequently granted landing rights airasia , other discount carriers.

in thailand , indonesia, airasia holds minority stake in respective local companies. thai airasia, joint venture shin corporation, thailand’s largest telecommunication conglomerate, took skies in feb 2004 , has date carried on 1 million passengers in first year of operations. pt awair, re-launched low fare airline on 8 december 2004 , subsequently renamed indonesia airasia, presently serves 5 domestic destinations in indonesia.

other ventures

in 2007, fernandes started hotel chain, tune hotels, based on no frills concept. has properties in britain, australia , far east.

in march 2012, served on international advisory board of global march jerusalem, aims mobilize international community in solidarity palestinians , protect jerusalem. joint statement issued, signed various members of board, including fernandes.

in 2013, hosted apprentice asia, asian spin-off of reality game show apprentice in group of aspiring young businessmen , women compete chance work fernandes.

caterham group

fernandes founder of caterham f1 formula 1 team, began racing in 2010 lotus racing , raced in 2011 team lotus. on 2 july 2014, caterham f1 sold swiss , middle eastern consortium.

on 16 december 2009, fernandes accepted challenge richard branson, fellow airline boss , owner of lotus fellow f1 newcomers virgin racing. losing team s boss work on winner s airline day dressed stewardess. fernandes joked sexier better. our passengers delighted served knight of realm, knowing richard, real challenge prevent him asking our guests coffee, tea or me? scary. in addition, team produced poster depicting branson in air asia uniform. however, date of flight delayed several times: first because of branson breaking leg, because of royal wedding, because of fire @ necker island. on 19 december 2012, fernandes announced branson honour bet in may 2013. branson honoured bet on 13 may 2013.

caterham racing, created fernandes, competes in gp2 series.

on 27 april 2011, fernandes announced company had purchased caterham cars.

football

fernandes fan of english club west ham united , involved in talks regarding potential takeover of club in may 2011, @ stage looked if going acquire 51 per cent stake in club. former west ham chairman andrew bernhardt flew kuala lumpur try , finalise deal, 2 parties failed agree on price. 1 month later when fernandes made offer buy 51 per cent of club, although co-owners david sullivan , david gold rejected bid. sullivan told london evening standard: wanted 51% of club 2 bob. sullivan s comments started war of words on twitter. offer money , brought in people, said fernandes. gold , sullivan can whatever want. have been lifelong fan , have brought money, ideas, new people , new belief. pr stunts. wow. in press making huge claims. not supposed in europe. have been relegated. 2 sacked managers. players sold. no new training ground important ingredient feel. @ how many injuries have. , more investment academy.

tony fernandes seat @ loftus road

on 18 august 2011, 3 months after queens park rangers promotion premier league following 15-year absence, fernandes unveiled majority shareholder, having bought bernie ecclestone s 66% stake. named chairman of qpr holdings ltd.

tony fernandes, august 2011.

while neil warnock remained club s manager return top-flight, run of 8 premier league games without win led sacking. mark hughes named replacement, signing two-and-a-half-year deal in process. despite new manager, qpr s poor run of form continued, left them fighting premier league survival on final day of 2011-2012 season. relegation rivals bolton wanderers needed win have chance of survival, muster draw stoke city, meaning qpr safe, despite losing 3-2 manchester city after sergio agüero s injury-time winner - goal stole premier league title arch-rivals manchester united on goal difference.

mark hughes led club 2012-2013 season, after 4 points 12 games , without single win - 1 of worst starts in premier league history - fernandes gave hughes marching orders. fernandes hired former tottenham hotspur manager harry redknapp on 24 november 2012, unable solve qpr s problems. following goalless draw relegation rivals reading on 28 april 2013, both teams relegated championship.

tony fernandes watching qpr v newcastle alongside les ferdinand @ loftus road may 2015

speaking media 1 week after rangers relegation championship, fernandes said had been exploited since took on @ loftus road. after investing estimated £50 million club, said: don t think exploited more. think allowed myself exploited s choice. agents trying best contracts , there no 2 ways it, had pay premiums. ve seen of parts make football quite - maybe immoral strong word - sell grandmother something. s part of football ecosystem.