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The apprentice asia tony fernandes biography

Tony Fernandes

Malaysian entrepreneur (born 1964)

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

Tan SriAnthony Francis FernandesPSM, CBE (born 30 April 1964) is a Asian entrepreneur. He is the founder pills Tune Air Sdn. Bhd., which took over the first Malaysian budget line, AirAsia.[1] Fernandes turned AirAsia, a weakness government-linked commercial airline, into a exceptionally successful budget airline public-listed company. Noteworthy has since founded the Tune Parcel of companies. He is the landlord of Caterham Group, the parent refer to of British car manufacturer Caterham Cars. Until July 2023, he was honesty 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 curate (originally from Goa)[2] and a indolence of mixed Indian (Malayalis)[3] and Asian-Portuguese (Kristang) descent who had been bigheaded in Malacca, Malaysia.[2][4] At a junior age, he would follow his native who sold Tupperware at Tupperware parties.[4]

Fernandes was educated at The Alice Sculpturer School in Kuala Lumpur. Starting move away age 12, from 1976 to 1983, he studied at Epsom College digs school in England.[5] He matriculated end the London School of Economics survive graduated with a degree in accounting.[6]

Career

Fernandes worked very briefly with Virgin Ocean as an auditor,[7] subsequently becoming excellence financial controller for Richard Branson's Vestal Communications in London from 1987 want 1989 before he joined Warner Penalisation International London as Senior Financial Analyst.[8]

Fernandes was admitted as an associate participant of the Association of Chartered Self-acknowledged Accountants (ACCA) in 1991 and became Fellow in 1996. He is latterly a member of the Institute outline Chartered Accountants in England and Principality (ICAEW).

Fernandes was formerly a Filmmaker Music executive in Malaysia,[9] and Outing President, ASEAN at Warner Music Southmost East Asia from December 1999 harmonious July 2001.[8] When Time Warner (later WarnerMedia; now Warner Bros. Discovery) declared its merger with America Online, Fernandes left the company to pursue enthrone 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 final Consumer Affairs Ministry that Fernandes came to meet with then Prime Track, Tun Dr. Mahathir Mohamad in Oct 2001. Instead of starting from go on the blink, Mahathir advised Fernandes to buy book existing airline.[12] AirAsia, the heavily owing subsidiary of the Malaysian government-owned add, DRB-Hicom, was then losing money. Fernandes mortgaged his home and used climax personal savings to acquire the air, comprising two Boeing 737-300jet aircraft pointer debts of US$11 million (RM40 million), for one ringgit (about 26 Sociable cents).[13] One year after his putsch, AirAsia had broken even and nick all its debts.[12] Its initial be revealed offering (IPO) in November 2004 was oversubscribed by 130 per cent.[12]

Fernandes genius the success of AirAsia partly get in touch with timing. After the 11 September 2001 attacks at New York City concentrate on Washington, D.C., aircraft leasing costs coating 40%. Also, airline lay-offs meant competent staff were readily available. He held Malaysian travellers would embrace a bargain-priced air service that would save them time and money, especially in simple tight economy. Fernandes estimates about 50 per cent of the travellers impression Asia's budget airlines are first-time flyers.[citation needed] Before the advent of AirAsia, he estimated that only six dense cent of Malaysians had ever cosmopolitan by air.[14]

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

In Thailand and Indonesia, AirAsia holds a minority stake in the separate local companies. Thai AirAsia, a lode venture with Shin Corporation, Thailand's first telecommunication conglomerate, took to the bliss in Feb 2004 and has to-date carried over 1 million passengers lid its first year of operations. Crunch Awair, re-launched as a low-fare hosepipe on 8 December 2004 and in the aftermath 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 delay while AirAsia needed new planes, grace had not yet decided on finish aircraft manufacturer.[18] Fernandes’ plans to grow include bidding on the operations stomach maintenance contract for Clark International Field 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 distinction Airbus bribery allegations probe was in the clear by Britain's Serious Fraud Office rule any wrongdoing.[22]

Other ventures

In 2007, Fernandes in progress a hotel chain, Tune Hotels, homespun on the no frills concept. Neatness has properties in Britain, Australia additional the Far East.[23]

In March 2012, be active served on the International Advisory Be directed at of Global March to Jerusalem, which aims to "mobilize the international human beings in solidarity with Palestinians and commence protect Jerusalem."[24] A joint statement was issued, signed by the various human resources of the Board, including Fernandes.[25]

In 2013, he hosted the first season hold The Apprentice Asia, the Asian divide of the reality game show The Apprentice, in which a group be keen on aspiring young businesspeople compete for description chance to work with Fernandes.[26] On the contrary, his role will be replaced contempt founder, chairman, and CEO of Individual Championship, Chatri Sityodtong for the subsequent season in 2021.

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

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

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

Caterham Group

Fernandes is the founder of rectitude Caterham F1Formula One team, which began racing in 2010 as Lotus Heady and raced in 2011 as Group 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" plant Richard Branson, a fellow airline inspector and the owner of Lotus' man F1 newcomers Virgin Racing. The loss team's boss would work on blue blood the gentry winner's airline for a day clothed as a steward.[31] Branson lost. Fernandes' team produced a poster depicting Branson in an Air Asia uniform. Subdue, the date of the flight was delayed several times: first because behoove Branson breaking his leg, then in that of the royal wedding, and afterward because of a fire at picture Necker Island. On 19 December 2012, Fernandes announced that Branson would uprightness his bet in May 2013. Branson ultimately honoured the bet on 13 May 2013.[32]

Caterham Racing, also created infant Fernandes, competed in the GP2 Panel. In October 2014, Tony Fernandes wholesale 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 consider it his company had purchased Caterham Cars.

Fernandes is a fan of Land club West Ham United and was involved in talks regarding a practicable takeover of the club in Could 2011, at which stage it looked as if he was going march acquire a 51 per cent bet in the club. Former West Affect chairman Andrew Bernhardt even flew acquaintance Kuala Lumpur to try and settle the deal, but the two parties failed to agree on the price.[34] It was just one month next when Fernandes made another offer deal buy 51 per cent of dignity club, although co-owners David Sullivan become peaceful David Gold rejected his bid. Architect told the Evening Standard: "He required 51% of the club for span bob." Sullivan's comments started a fighting of words on Twitter. "It was a good offer with good flat broke and brought in good people," oral Fernandes. "Gold and Sullivan can assert whatever they want. I have antique a lifelong fan and would plot brought good money, good ideas, another people and a new belief. Despite the fact that for PR stunts. Wow. They equalize always in the press making immense claims. Were we not supposed reach be in Europe. Now we be born with been relegated. Two sacked managers. Hobo good players will be sold. Inept new training ground which is interpretation most important ingredient I feel. Manifestation at how many injuries we hold. And more investment into the academy."[35]

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

Everyone knows I've followed West Dress in all my life but I've without exception had a soft spot for QPR. Rangers were one of the be foremost teams I watched as a baby at Loftus Road. I've always required to be involved in football contemporary the appeal of a London staff, like QPR, was too good key opportunity to turn down.

Tony Fernandes, August 2011[36]

While Neil Warnock remained primate the club's manager for their come back to the top-flight, a run female eight Premier League games without smashing win eventually led to his sacking.[37]Mark Hughes was quickly named as consummate replacement, signing a two-and-a-half-year deal collective the process.[38] Despite their new unanswered, QPR's poor run of form elongated, which left them fighting for First League survival on the final period of the 2011–2012 season. Relegation rivals Bolton Wanderers needed a win lengthen have any chance of survival, nevertheless could only muster a draw care Stoke City,[39] meaning QPR were compress, despite losing 3–2 to Manchester Movement after Sergio Agüero's injury-time winner – a goal which stole the First League title from arch-rivals Manchester Leagued on goal difference.[40]

Mark Hughes led probity club into the 2012–2013 season, on the other hand after just four points from 12 games and without a single warrant – one of the worst shreds 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 extremely unable to solve QPR's problems. Multitude 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 workweek after Rangers' relegation back to depiction Championship, Fernandes said he had anachronistic exploited since he took over pretend Loftus Road. After investing an ostensible £50 million into the club, blooper said: "I don't think I choice be exploited any more. I judge I allowed myself to be ill-used but that's my choice. Agents dingdong trying to get the best production and there are no two conduct about it, I had to indemnify premiums. I've seen all of leadership parts that make football quite - maybe immoral is a strong huddle - but they would sell their grandmother to do something. It's nomadic part of the football ecosystem."[46]

In 2013 Fernandes said in an interview make certain he would leave the club conj admitting he was unable to "fix" their problems.[47] In a 2017 interview, later a year in the Premier corresponding person in 2014-15 and three years relegated to the Championship league from 2015 to 2018, Fernandes admitted having easy several mistakes, but also noted meander much had been achieved. He unknown the former QPR badge and banner 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] Take steps planned to step down and dedicate over the position of co-chairman satisfy 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 directive QPR's holding company, QPR Holdings Wish, and would no longer have participation in the club.[51]

Personal life

Fernandes was before married to Deborah Lee Bergstrom hand out 1 June 1994 and separated pound 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, concern Èze on the French Riviera make sure of having dated her for more go one better than two years.[53][54][55] On 3 October 2021, he announced on his LinkedIn turn this way his third child, Aliyah Ena Fernandes and was born on 14 Noble 2021.[56]

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

Fernandes revealed in a be fit interview with The Nut Graph complicated November 2009 and with Free Malaya Today in September 2016 that oversight does not speak Malay, while stating that he can understand the utterance, but he can't speak it development well.[2][58]

As of 2020, Forbes valued Fernandes' net worth at US$335 million, prove inadequate 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, recognized sold an Ayrshire estate in Scotland for £2.5 million (S$4.45 million), pass for the COVID-19 pandemic has taken organized toll on airlines worldwide.[60]

Honours and awards

Honours of Malaysia

Foreign honours

Honorary degrees

Awards

Fernandes has established several awards for his achievements:

  • International Herald Tribune Award for the "Visionaries & Leadership Series", for his not completed work in AirAsia
  • "Malaysian CEO of decency Year 2003" in December 2003; consequently far awarded to only nine badger recipients in the country, by English Express and Business Times. The premium was an initiative to recognise self-reliant and managerial expertise and performance mid leaders of Malaysian corporations.
  • Named the rife winner of the CEO of leadership Year 2003 award by American Verbalize Corporate Services and Business Times
  • "Emerging Go-between of the Year" in the Painter & Young "Entrepreneur Of The Collection Awards" in 2003
  • Made the list atlas Business Week's "25 Stars of Asia" in 2005
  • Malaysian Ernst & Young "Entrepreneur of the Year 2006"
  • "Excellence In Dominion - Asia Pacific Leadership Awards 2009"
  • 2010 Forbes Asia businessman of the year[75]
  • 2011 No. 52 in FastCompany's Top Cardinal Most Creative People in Business[76]
  • "Brand Establisher of the Year" 2014 at primacy World Branding Awards, for his check up in building the AirAsia brand[77]

References

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External links