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10 APRIL 2024

Monday, October 31, 2022

Tony Fernandes resigns as AirAsia X group CEO


Tony Fernandes has cited “other commitments” for his decision to step down.

KUALA LUMPUR: Tony Fernandes has resigned as AirAsia X Bhd (AAX) group CEO, months after he was appointed to the post.

Fernandes cited “other commitments” for his decision to step down, according to a filing to Bursa Malaysia.

On July 8, Fernandes was redesignated as AAX acting group CEO.

In a statement issued late this evening, AirAsia said executive chairman Tunku Mahmood Fawzy will be appointed as independent non-executive director of Thai AirAsia X (Thai AAX) effective immediately.

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He will oversee the strategic direction and drive sustainable growth for the medium-haul of both AAX and Thai AAX.

The statement quoted Fernandes as saying that he had accomplished his mandate to restart AirAsia X with a plan for 20 aircraft for the group – 13 for AAX and seven for Thai AAX.

He said the airline group has managed to improve its cost structure and created the cargo business, which had contributed about 20% of the airline’s revenue during the Covid-19 pandemic.

“It will continue to play a vital role in the recovery of AAX,” he said.

Fernandes said he will now focus on delivering value to shareholders of Capital A Bhd, including the AirAsia Aviation Group, aviation services, logistics, travel, fintech and the e-commerce lifestyle platform. - FMT

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