Tony Fernandes facts for kids
Quick facts for kids
Yang Berbahagia Tan Sri Dato' Sri
Tony Fernandes
PSM SSAP SPMP DPTJ CBE
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Fernandes at the 2011 British Grand Prix
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| Born |
Anthony Francis Fernandes
30 April 1964 Kuala Lumpur, Malaysia
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| Education | London School of Economics (BAcc) |
| Occupation | Entrepreneur |
| Years active | 1987–present |
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| Spouse(s) |
Deborah Lee Bergstrom
(m. 1994; separated 2004)Chloe Kim
(m. 2017) |
| Children | 3 |
Tan Sri Anthony Francis Fernandes (born on April 30, 1964) is a famous Malaysian businessman. He is best known for starting Tune Air Sdn. Bhd., which later took over AirAsia. AirAsia was Malaysia's first budget airline. Tony Fernandes transformed AirAsia from a struggling airline into a very successful one. He also founded the Tune Group of companies. He used to own Caterham Group, which includes the British car maker Caterham Cars. Until July 2023, he was a major owner of the football club Queens Park Rangers F.C..
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Early life and education
Tony Fernandes was born in Kuala Lumpur, Malaysia, on April 30, 1964. His father was from India, and his mother had mixed Indian and Portuguese roots. When he was young, he often went with his mother as she sold Tupperware products at parties.
He went to The Alice Smith School in Kuala Lumpur. From age 12, he studied at Epsom College, a boarding school in England, from 1976 to 1983. Later, he went to the London School of Economics and earned a degree in accounting.
Career
After college, Tony Fernandes briefly worked as an auditor for Virgin Atlantic. He then became the financial controller for Richard Branson's Virgin Communications in London from 1987 to 1989. After that, he joined Warner Music International in London as a Senior Financial Analyst.
He became a certified accountant in 1991 and a Fellow in 1996. He was a Warner Music executive in Malaysia and Vice President for Southeast Asia from 1999 to 2001. When Warner Music merged with America Online, Fernandes left the company. He wanted to start his own budget airline.
AirAsia: Flying High
In 2001, Tony Fernandes met with Malaysia's Prime Minister, Tun Dr. Mahathir Mohamad. Instead of starting a new airline, the Prime Minister suggested he buy an existing one. AirAsia was a government-owned airline that was losing a lot of money.
Fernandes used his personal savings and mortgaged his home to buy AirAsia. He bought the company, which had two Boeing 737-300 planes and US$11 million in debt, for just one ringgit (about 26 US cents).
Just one year after he took over, AirAsia started making money and paid off all its debts. When the company offered shares to the public in 2004, people were very eager to buy them.
Fernandes believes AirAsia's success was partly due to good timing. After the attacks on September 11, 2001, the cost of renting airplanes dropped a lot. Also, many experienced airline staff were looking for jobs. He thought Malaysians would like a cheap airline that saved them time and money. He estimated that about half of the travelers on Asia's budget airlines were flying for the first time. Before AirAsia, only about six percent of Malaysians had ever flown on a plane.
He also helped convince the Malaysian Prime Minister to create "open skies agreements" with nearby countries like Thailand, Indonesia, and Singapore. This allowed AirAsia and other budget airlines to land in these countries.
In Thailand and Indonesia, AirAsia owns a part of local airline companies. Thai AirAsia started flying in 2004. Indonesia AirAsia also started as a low-fare airline in 2004.
In 2018, Fernandes announced plans for more low-cost airport terminals. He also said AirAsia needed new planes but had not yet chosen a maker. He also planned to bid on a contract to manage Clark International Airport in the Philippines.
In February 2020, Fernandes temporarily stepped down as CEO of AirAsia. This was due to questions about Airbus bribery claims. A month later, he was back as CEO after the claims were found to be untrue by Britain's Serious Fraud Office.
Other ventures
In 2007, Fernandes started a hotel chain called Tune Hotels. These hotels also follow a "no frills" idea, meaning they offer basic services at a lower price. They have hotels in Britain, Australia, and Asia.
In 2013, he hosted the first season of The Apprentice Asia. This reality TV show had young business people competing for a chance to work with him.
In 2017, Fernandes released his first book, Flying High. In 2018, he was named the head of Malaysia Stadium Corporation (MSC). In 2020, he started a food delivery business. This was because the COVID-19 pandemic greatly affected airlines.
Caterham Group: Cars and Racing
Fernandes founded the Caterham F1 Formula One racing team. It started racing in 2010 as Lotus Racing. In July 2014, Caterham F1 was sold to another group.
In 2009, Fernandes made a fun "challenge" with Richard Branson, who also owned an airline and a new F1 team. The boss of the losing team would work as a flight attendant for the winner's airline for a day. Branson's team lost. On May 13, 2013, Branson kept his promise and worked as a flight attendant on an AirAsia flight.
Fernandes also created Caterham Racing, a team that competed in the GP2 Series. In 2014, he sold this team. In April 2011, Fernandes announced that his company had bought Caterham Cars, a British car manufacturer.
Football: Queens Park Rangers
Tony Fernandes is a big fan of the English football club West Ham United. In 2011, he tried to buy a part of the club, but the deal didn't happen.
On August 18, 2011, Fernandes became the main owner of Queens Park Rangers (QPR). This was after QPR had been promoted back to the Premier League after 15 years. He also became the chairman of QPR Holdings Ltd.
QPR struggled in the Premier League. They changed managers several times, hiring Mark Hughes and then Harry Redknapp. Despite these changes, QPR was relegated to the Championship in 2013.
Fernandes later said that he felt he had been taken advantage of financially during his time with the club. He invested a lot of money into QPR. In 2017, he admitted making mistakes but also noted achievements, like bringing back the old QPR badge and working more with the local community.
In August 2018, Fernandes said he would soon step down from his role. He handed over the co-chairman position to Amit Bhatia. On July 10, 2023, it was announced that Fernandes no longer owned any shares in QPR and would not be involved with the club anymore.
Personal life
Tony Fernandes was married to Deborah Lee Bergstrom from 1994 to 2004. They have two children, Stephanie and Stephen.
On October 14, 2017, he married Chloe Kim, a South Korean actress, in France. On October 3, 2021, he announced that his third child, Aliyah Ena Fernandes, was born on August 14, 2021.
He can understand the Malay language but does not speak it very well.
In 2020, Forbes estimated Tony Fernandes's wealth to be US$335 million. This was a decrease from US$650 million in 2014. In November 2020, he sold an estate in Scotland. This was because the COVID-19 pandemic had a big impact on airlines worldwide.
Honours and awards
Honours of Malaysia
Malaysia :
Commander of the Order of Loyalty to the Crown of Malaysia (PSM) – Tan Sri (2011)
Negeri Sembilan :
Knight Commander of the Grand Order of Tuanku Jaafar (DPTJ) – Dato' (2005)
Pahang :
Knight Companion of the Order of Sultan Ahmad Shah of Pahang (DSAP) – Dato' (2007)
Grand Knight of the Order of Sultan Ahmad Shah of Pahang (SSAP) – Dato' Sri (2007)
Perak :
Knight Grand Commander of the Order of the Perak State Crown (SPMP) – Dato' Seri (2011)
Foreign honours
France :
Commander of the National Order of the Legion of Honour (2017)
United Kingdom :
Commander of the Order of the British Empire (CBE) (2011)
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Honorary degrees
Cambodia :
- Honorary Doctorate in Management from University of Cambodia - (Dr.) (2017)
- Malaysia :
- Honorary Doctorate in Business Innovation from University of Technology Malaysia - (Dr.) (2010)
- Honorary Doctorate from Binary University - (Dr.) (2014)
- Honorary Doctorate in Corporate Leadership from MAHSA University - (Dr.) (2017)
- Honorary Doctorate in Management from University of Putra Malaysia - (Dr.) (2019)
- United Kingdom :
- Honorary Doctorate from Cranfield University - (Dr.) (2018)
Awards
Fernandes has received several awards for his achievements:
- International Herald Tribune Award for his great work with AirAsia.
- "Malaysian CEO of the Year 2003" award.
- "Emerging Entrepreneur of the Year" in the Ernst & Young "Entrepreneur Of The Year Awards" in 2003.
- Listed in Business Week's "25 Stars of Asia" in 2005.
- Malaysian Ernst & Young "Entrepreneur of the Year 2006".
- "Excellence In Leadership - Asia Pacific Leadership Awards 2009".
- 2010 Forbes Asia businessman of the year.
- 2011 No. 52 in FastCompany's Top 100 Most Creative People in Business.
- "Brand Builder of the Year" 2014 at the World Branding Awards, for building the AirAsia brand.
See also
In Spanish: Tony Fernandes para niños
