Tony Fernandes and Airasia Essay Example

was in fact perfect: Since 11 September 2001, aircraft leasing costs were down 40%.

Also, airline lay-offs mean experienced staff were readily available. He believed Malaysian travellers would embrace a cut-rate air service that will save them time and money, especially in a tight economy. That was why he copied one of the world's most successful no-frills carriers, Ryanair out of Ireland (which in turn is modelled after Southwest Airlines in the United States). Fernandes thinks that about 50 per cent of the travellers on Asia's budget airlines are first-time flyers.

Before AirAsia, he estimates that only six per cent of Malaysians had ever travelled in a plane. [edit] Other ventures 2007, Tony Fernandes nas again created a "tlrst" in Asia by starting a notel chain, Tune Hotels which is based on the no-frills concept. The first Tune Hotel was opened at the intersection of Jalan Sultan Ismail and Jalan Tuanku Abdul Rahman in the heart of Kuala Lumpur. Expansions are in the works as more hotels will be opened up hroughout Malaysia. Another new Tune Hotel will be opening soon in Bali, Indonesia.

As of 2009, Fernandes is also the president of the ABL (Asian Basketball League). [2] Fernandes has stated that it has always been a dream of his to be able to be involved with the development of sports in the ASEAN region. [3] [edit] Lotus Fl Fernandes is the team principal of the new Lotus Fl Racing, which has been granted entry into the 2010 Formula One season. Having initially planned to stand down from the role after the season begins,[4] he has since indicated that he will carry on in

this position. ] On 16 December 2009, Fernandes accepted a "challenge" from Richard Branson, a fellow airline boss and the owner of Lotus' fellow Fl newcomers Virgin Racing, where the losing team's boss should work on the winner's airline for a day dressed as a stewardess Joking "The sexier the better. Our passengers will be delighted to be served by a Knight of the Realm, but knowing Richard, the real challenge will be to prevent him from asking our guests 'coffee, tea or me? ' That would be scary. "[6] On top of this, the team also produced a poster depicting Branson in an Air Asia uniform. [7] [edit] West Ham United

Fernandes is a fan of English Premier League club West Ham United and has been involved in talks concerning a takeover of the club. [8] [edit] Achievements and awards Fernandes' biggest achievement has been to turn the AirAsia airline into an international carrier. Before the creation of AirAsia, countries in the region did not have open-skies agreements. In mid-2003, Fernandes' lobbying pushed Dr Mahathir to raise the idea with the leaders of neighbouring Thailand, Indonesia, and Singapore. As a result, those nations have granted landing rights to AirAsia and other discount carriers.

Fernandes has indeed set in motion the advent of budget carriers in the region. Now, Southeast Asia hosts a number of low-price carriers such as: * Malaysia's Firefly (owned by Malaysia Airlines) * Singapore's Tiger Airways (owned by Singapore Airlines); * Singapore's Valuair and Jetstar Asia (partly owned by Qantas Airways) (both airlines merged in 2005); * Thailand's Nok Air; * Indonesia's Lion Air; * Vietnam's Jetstar Pacific (formerly Pacific Airlines),

and * Philippines's Cebu Pacific. In 2004, AirAsia formed successful Joint ventures in Thailand and Indonesia where AirAsia holds 49% stake in both companies.

Thai AirAsia, a Joint venture with Shin Corporation, Thailand's largest telecommunication conglomerate, took to the skies in Feb 2004 and has to date carried over 1 million guests in its first year of operations. PT AWAIR, re-launched as a low fare airline on Dec 8th 2004 and subsequently re- named Indonesia AirAsia, presently serves 5 domestic destinations in Indonesia. Fernandes has received several awards for his outstanding achievements: * International Herald Tribune Award for the "Visionaries & Leadership Series", for his outstanding work in AirAsia; * "Malaysian CEO of the Year 2003" in December