Tony Fernandes Biography – Malaysian business mogul, Anthony Francis Fernandes was born on April 30, 1964, in Kuala Lumpur, Malaysia.
|Name:||Anthony Francis Fernandes|
|Wife:||Deborah Lee Bergstrom, Chloe Kim|
|Date of Birth:||30 April 1964|
|Net Worth:||$400 million|
Tony Fernandes Nationality
Fernandes was born in Kuala Lumpur, Malaysia. He was born to a Goan father and a mixed Indian with an Asian-Portuguese mother. He is a Malaysian citizen.
Tony Fernandes Age
Fernandes was born on April 30, 1964, hence he is currently 59 years of age.
Tony Fernandes Height and Weight
We have no details about Fernandes’ body measurement as of the time of filing this report.
Tony Fernandes Family and Siblings
Fernandes was born to Ena Dorothy Fernandes and Dr. Stephen Edward Fernandes. He has a sister named Karena.
Tony Fernandes Education
Fernandes attended The Alice Smith School in Kuala Lumpur. He furthered at the Epsom College boarding school in England. He also studied at the London School of Economics and graduated with a degree in accounting.
Tony Fernandes Career
After a brief stint as an auditor for Virgin Atlantic, Fernandes went on to serve as the financial controller for Richard Branson’s Virgin Communications in London from 1987 to 1989. He then accepted a position as a senior financial analyst at Warner Music International London.
Fernandes joined the Association of Chartered Certified Accountants (ACCA) in 1991 as an associate member and was elevated to fellow status in 1996. Currently, he belongs to the ICAEW or Institute of Chartered Accountants in England and Wales.
From December 1999 to July 2001, Fernandes served as Vice President, of ASEAN at Warner Music South East Asia and a Warner Music executive in Malaysia.
Fernandes quit Time Warner (later WarnerMedia; now Warner Bros. Discovery) when it was announced that it would merge with America Online to pursue his dream of founding a low-cost, no-frills airline.
Fernandes met with Tun Dr. Mahathir Mohamad in October 2001 thanks to the late Datuk Pahamin A. Rajab, the former secretary-general of the Malaysian Domestic Trade and Consumer Affairs Ministry.
Mahathir suggested to Fernandes to purchase an existing airline rather than starting from scratch. At the time, AirAsia, a deeply indebted division of DRB-Hicom, a company owned by the Malaysian government, was losing money.
The company, which included two Boeing 737-300 jet aircraft and debts of US$11 million (RM40 million), was purchased by Fernandes for one ringgit (about 26 US cents) by mortgaging his home and using his own funds.
A year after his takeover, AirAsia had achieved financial stability and paid off all of its obligations. In November 2004, when it made its first public offering (IPO), there was a 130% oversubscription.
Fernandes says that time played a role in AirAsia’s success. After the attacks on September 11, 2001, in New York City and Washington, D.C., the cost of leasing an airplane dropped by 40%. Additionally, due to airline layoffs, qualified personnel were easily accessible.
In particular, he thought that in a difficult economic climate, Malaysian travelers would welcome a low-cost air service that would enable them to save time and money.
According to Fernandes, 50% of passengers on Asia’s low-cost airlines are first-time travelers. He calculated that only 6% of Malaysians had ever flown before the establishment of AirAsia.
Midway through 2003, he actively pushed Malaysia’s then-Prime Minister Tun Dr. Mahathir Mohamad to suggest the idea of open skies agreements with Singapore’s neighbors Thailand, Indonesia, and Malaysia.
These countries consequently granted landing rights to AirAsia and other low-cost airlines. AirAsia is a modest shareholder in the local businesses in Thailand and Indonesia.
In its first year of operations, Thai AirAsia, a joint venture between Shin Corporation and Thailand’s largest telecommunications conglomerate, entered the air in February 2004.
PT Awair, which was re-launched as a low-cost carrier on December 8 and later changed its name to Indonesia AirAsia, currently flies to 5 domestic locations in Indonesia.
In 2018, Fernandes declared that more terminals for low-cost carriers would be built and acknowledged that AirAsia needed new aircraft but that he had not yet chosen an aircraft manufacturer.
In order to grow, Fernandes intends to submit a bid for the Philippines’ Clark International Airport’s operations and maintenance contract.
As the investigation into the claims of Airbus bribery progressed in February 2020, Fernandes resigned as CEO of AirAsia. After the Serious Fraud Office of Britain cleared the Airbus bribery claims investigation of any wrongdoing a month later, Fernandes was restored as CEO of AirAsia.
Tony Fernandes Wife
Fernandes is married to Chloe Kim. They got married in 2017.
Tony Fernandes Children
Fernandes has three children; Stephanie, Stephen, and Aliyah Ena Fernandes.
Tony Fernandes Religion
Fernandes is believed to be a Catholic.
Tony Fernandes Net Worth
Fernandes has a net worth estimated to be about $400 million as of 2023.