Category Archives: music
Mr Fernandes bought Air Asia from a Malaysian government-owned company in September 2001 for a mere 25 pence.
“It really was a little bit of stick your finger in the air and hope for the best. But we were good marketing people from the music business… we just went out there and felt the market and said if you halve the fare, there’s a huge enormous untapped market.”
Air Asia was heavily indebted at the time. Fernandes set about reforming the airline as a short-haul low cost carrier, similar to those operating in the West. The decision revolutionised short-haul flights around Asia and Fernandes saw his business expand rapidly.
The company grew from two planes in 2002 to a fleet of 86 aircraft flying 30 million people around the world.