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10 APRIL 2024

Thursday, December 8, 2011

Tony Fernandes refutes quit report


December 08, 2011
KUALA LUMPUR, Dec 8 — Tan Sri Tony Fernandes has denied he will resign as AirAsia boss soon, pointing out that he had only told reporters the airline must prepare for new leadership.

“Not resigning from AirAsia. All I said is next 10 years we must prepare for new leadership and my time is coming up soon,” he said on micro-blogging site Twitter at around 7.40pm.

“First a CEO for Malaysia and I focus on group functions as group CEO. Good leadership is to prepare for succession. Not going anytime soon though.”

Bernama reported earlier today Fernandes (picture) had hinted he would soon step down as the head of Asia’s biggest budget carrier at AirAsia’s 10th anniversary bash in Sepang.

“Next 10 years (there) will be a new CEO. My time is coming to an end soon,” the state news agency had quoted him as saying when asked where the airline will be in 10 years.

“Yes, all three of us (chairman Datuk Aziz Bakar and deputy chief executive officer Datuk Kamaruddin Meranun) will have to go together.”

Bernama later issued an urgent notice to editors that it was retracting the story at AirAsia’s request, adding that there would be no replacement story.

Malaysian state investment arm Khazanah Nasional Bhd owns 10 per cent of AirAsia after a share swap with Fernandes’ company, Tune Air Sdn Bhd, which now holds 20.5 per cent of Malaysia Airlines (MAS).

Both Fernandes and Kamaruddin are also non-executive directors in the ailing flag carrier.

Loss-making MAS is now going through another turnaround plan with new management despite two earlier turnaround plans.

The new plan includes setting up a super premium regional airline which will not compete with AirAsia. The low-cost carrier also has operations in Thailand, Indonesia and soon in the Philippines and Japan.

Fernandes has used his fortune made from AirAsia’s success to venture into owning a Formula One racing team Caterham F1 Team and the Queens Park Rangers football club playing in the English Premier League.

He is also said to be looking to launch Caterham Jet, a premium business jet service, next year.

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