The Foundr Podcast with Nathan Chan 605: He Bought an Airline for $0.30 (and made BILLIONS) | Tony Fernendes (Best of Foundr)
Nov 13, 2025
Tony Fernandes, a serial entrepreneur and CEO of AirAsia, transformed a struggling airline into a billion-dollar business. He shares how he purchased AirAsia for just 30 cents and $10 million in debt just before 9/11. Key topics include the importance of rapid scaling to outpace competitors, the value of cultivating a strong company culture, and leveraging digital strategies for growth. Tony also discusses embracing failures, the significance of personal branding, and his vision of making air travel accessible to all.
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Buying An Airline For 30 Cents
- Tony Fernandes bought AirAsia three days before 9/11 for one ringgit and about $10M of debt.
- He inherited 265 terrified staff and turned the failing airline into a major carrier.
Scale Fast Or Get Copied
- Scale quickly because business models are easy to copy and incumbents can respond.
- Fernandes prioritized rapid growth to lock in market position across ASEAN.
Find Latent Markets, Not Just Big Ones
- Massive latent demand existed: only 6% of Malaysians flew.
- Tony targeted ASEAN markets others ignored to unlock huge new customer pools.