Tony Fernandes, former music industry worker and CEO of AirAsia, discusses his varied career, the airline industry's recovery from COVID-19, recent safety issues at Boeing, and his love for football.
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Quick takeaways
Tony Fernandez's impulsive yet transparent management style guided AirAsia through challenging times, prioritizing safety and diversifying into new ventures.
Tony's entrepreneurial journey has been driven by passion, embracing challenges, and making a positive impact in various industries.
Deep dives
From Music to Airlines: Tony Fernandez's Entrepreneurial Journey
Tony Fernandez, CEO of AirAsia, shares his journey from the music industry to becoming a successful entrepreneur in the airline industry. Despite starting as an accountant in the music industry, Tony left due to the industry's constant changes, particularly with the rise of Napster. He then entered the airline industry, inspired by budget airlines like Ryanair and the vision of making air travel more affordable. Tony purchased an ailing Malaysian airline for a nominal price and turned it into AirAsia, democratizing air travel in Southeast Asia. Faced with challenges such as the 9/11 attacks and the recent COVID-19 pandemic, Tony's impulsive management style guided him in navigating these difficult times and implementing innovative strategies for survival and growth.
Overcoming Tragedy and Adversity: AirAsia's Resilience
AirAsia faced tragedy when one of their planes crashed off the coast of Indonesia, resulting in the loss of all 162 passengers. Tony Fernandez's immediate response was to personally attend to the families of the victims, showcasing his commitment to transparency and taking responsibility as the CEO. This tragedy inspired the airline to continuously prioritize safety and maintain a resilient operation. Additionally, AirAsia successfully tackled the challenges posed by the COVID-19 pandemic with conservative financial management, restructuring the business, and diversifying into new ventures, such as cargo, food delivery, and fintech. Despite the ongoing difficulties, Tony remains optimistic about the future and AirAsia's potential for growth and innovation.
Following Dreams and Embracing Challenges: Tony Fernandez's Passion for Sports
Tony Fernandez's passion for sports led him to establish a Formula One team and take ownership of Queen's Park Rangers, a London-based football club. Though both ventures faced their share of challenges and criticism, Tony has no regrets, viewing them as fulfilling his lifelong dreams. He believes in channeling his passion and embracing challenges head-on, often responding in an impulsive yet transparent manner. While his focus remains on fixing and expanding AirAsia, Tony admits to missing his involvement in football and holds the possibility of returning to the sport in the future. Ultimately, Tony Fernandez's entrepreneurial journey has been driven by passion and a desire to make a positive impact in various industries.
Tony Fernandes has worked in the music industry, owned a formula one team and co-owned a professional London football club, but these days he’s concentrating on his core business as the CEO of the parent company of AirAsia, a Malaysia-based budget airline he co-founded that has transformed travel in South East Asia.
We speak to him about his varied career, the airline industry’s recovery from the Covid pandemic, and the recent safety issues at Boeing.
(Picture: Tony Fernandes. Credit: EPA-EFE/REX/Shutterstock)
Presented and produced by Gideon Long
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