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 |
Tony Fernandes (born April 30, 1964) is a famous Malaysian businessman. He is best known for starting AirAsia, a very successful budget airline. He bought AirAsia when it was struggling and turned it into a huge success, making air travel affordable for many people. Tony Fernandes also created the Tune Group of companies, which includes hotels and other businesses. He used to own the Caterham Group, which made cars, and was a big owner of the Queens Park Rangers F.C. football club until July 2023.
Contents
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 heritage. When he was young, he sometimes helped his mother sell Tupperware products.
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 Journey
Tony Fernandes briefly worked as an auditor for Virgin Atlantic. After that, he became the financial controller for Richard Branson's Virgin Communications in London from 1987 to 1989. He then joined Warner Music International in London as a Senior Financial Analyst.
He became a member of the Association of Chartered Certified Accountants (ACCA) in 1991. He is also a member of the Institute of Chartered Accountants in England and Wales (ICAEW).
Before starting AirAsia, Fernandes was an executive at Warner Music in Malaysia. He was also the Vice President for Southeast Asia at Warner Music from 1999 to 2001. He left Warner Music to follow his dream of starting a low-cost airline.
Starting AirAsia
In October 2001, Tony Fernandes met with the Malaysian Prime Minister at the time, Mahathir Mohamad. Instead of starting a new airline from scratch, Mahathir suggested he buy an existing one. AirAsia was a struggling airline owned by a Malaysian government company, and it was losing money.
Fernandes took a big risk. He used his personal savings and mortgaged his home to buy AirAsia for just one ringgit (about 26 US cents). At that time, AirAsia had two Boeing 737-300 planes and US$11 million in debt.
Just one year after he took over, AirAsia started making a profit and paid off all its debts! When the company offered its shares to the public in November 2004, people were very eager to buy them.
Fernandes believes AirAsia's success was partly due to good timing. After the September 11 attacks in 2001, the cost of renting airplanes dropped a lot. Also, many experienced airline staff were looking for jobs. He thought Malaysians would like a cheaper way to fly, especially when money was tight. He estimates that about half of the people flying on budget airlines in Asia 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 in 2003 to create "open skies agreements" with nearby countries like Thailand, Indonesia, and Singapore. This meant AirAsia and other discount airlines could land in those countries.
AirAsia also has partnerships in other countries. Thai AirAsia, a joint venture with a Thai company, started flying in February 2004. Indonesia AirAsia also began offering low-fare flights in December 2004.
In February 2020, Fernandes temporarily stepped down as CEO of AirAsia while some questions about Airbus were looked into. A month later, he was back as CEO after the investigation found no wrongdoing.
Other Business Ventures
In 2007, Fernandes started a hotel chain called Tune Hotels. These hotels are based on the "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 was a reality TV show where young business hopefuls competed for a chance to work with him.
In 2017, Tony Fernandes released his first book, a memoir called Flying High. In 2018, he was chosen to lead the Malaysia Stadium Corporation (MSC). In 2020, he started a food delivery service, especially as the COVID-19 pandemic affected airlines.
Caterham Group
Fernandes founded the Caterham F1 Formula One racing team. It started racing in 2010 as Lotus Racing. In July 2014, he sold the Caterham F1 team.
In 2009, Fernandes made a fun bet with Richard Branson, another airline boss. The loser of the bet had to work as a flight attendant on the winner's airline for a day. Branson lost the bet and worked as a flight attendant on an AirAsia flight in May 2013.
Fernandes also created Caterham Racing, a racing team that competed in the GP2 Series. He sold this team in October 2014. In April 2011, his company also bought Caterham Cars, a British car manufacturer.
Football
Tony Fernandes is a big fan of the English football club West Ham United. He tried to buy a part of the club in 2011, but the deal didn't happen.
On August 18, 2011, Fernandes became the main owner of Queens Park Rangers (QPR). The club had just been promoted back to the Premier League after 15 years. He also became the chairman of QPR.
QPR had a tough time in the Premier League. The team changed managers several times, including Neil Warnock, Mark Hughes, and Harry Redknapp. Despite their efforts, QPR was relegated back to the Championship in 2013.
Fernandes admitted that he made some mistakes during his time with QPR. He invested a lot of money into the club. He brought back the old QPR badge and colors and worked to connect more with the local community. In August 2018, he stepped down as co-chairman, handing the role over to Amit Bhatia.
By July 10, 2023, Tony Fernandes no longer owned any shares in QPR and was no longer involved with the club.
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 also has Overseas Citizenship of India because of his Indian family background. Fernandes has mentioned that he understands the Malay language but doesn't speak it very well.
In 2020, Forbes estimated Tony Fernandes's net worth to be US$335 million. This was a decrease from his earlier net worth, partly due to the COVID-19 pandemic affecting airlines worldwide.
Awards and Recognition
Tony Fernandes has received many awards for his achievements in business:
- He won the "Malaysian CEO of the Year 2003" award.
- He was named "Emerging Entrepreneur of the Year" in 2003.
- He was listed among Business Week's "25 Stars of Asia" in 2005.
- He was recognized as the "Forbes Asia businessman of the year" in 2010.
- He was named "Brand Builder of the Year" in 2014 for his work with the AirAsia brand.
He has also received several honorary doctorates from universities in Malaysia, Cambodia, and the United Kingdom.
See also
In Spanish: Tony Fernandes para niños
