Tony Fernandes is
presently without a doubt one of the most admired
executive-turned-entrepreneurs in the Malaysia corporate and working
world. He is a 'big believer on big dreams'. Many people scoffed at
his idea to buy a debt-ridden airline, AirAsia from DRB-Hicom to
turn it into a low-cost airline in Malaysia. Fernandes mortgaged his
own house and shrank his savings to help him achieving his dream.
AirAsia was acquired at RM1 (US 26 cents) with liability of over
RM40 millions (US11 millions) and 2 ageing Boeing planes.
Many thought him to be
crazy, and with the 11 September 2001 tragedy, many believed that
AirAsia's doom would be faster than ever. But Tony Fernandes had
different thinking. After the September 11 tragedy, he expected
significant lay offs which made the experience staff readily
available, and the cost of airline operation to go down by 40%. Against the popular
prophecy, under Fernandes' leadership and vision, AirAsia broke even
within a mere 12 months and cleared its debt. Within a short span of
time, AirAsia's size in terms of revenue, profits and popularity has
eclipsed Malaysia's very own national carrier, MAS.
Interestingly enough,
Tony Fernandes possesses a lot of similarity with his former boss and
mentor, Richard Branson of Virgin. He worked with Virgin Atlantic as
an auditor and financial controller for Branson's virgin record
after graduating in London School of Economics. Upon returning to
Malaysia, he became the youngest Managing Director of Warner Music
Malaysia, and subsequently promoted to regional vice-president of
Warner Music Group.
Successful as he is
today, he remains humble and stays down to earth. His most prominent
trade marks air his red AirAsia cap, short sleeve t-shirt and a pair
of jeans. No tie, no coat. During one of his many
interviews with the press, he once joked: "People recognize me
because of this cap I'm wearing. But if I take off this cap, you
will see me as just another Indian guy!"
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