Tony Fernandes Steps Down as Acting Group CEO of AirAsia X

(01/11/22)  AirAsia X (AAX) has made key changes to its senior management team as the company prepares for the next phase of growth as a mid-range airline.

Tony Fernandes, who was recently appointed as Acting Group CEO in addition to his position as a Non-Independent, Non-Executive Director of AAX, has stepped down from his senior leadership positions with AAX, while Tunku Dato’ Mahmood Fawzy has been appointed as the Independent Non-Executive Director of Thai AirAsia X (TAAX), effective immediately.

AirAsia X wingtip and a sunbow in sky above DMK. Picture by Steven Howard of TravelNewsAsia.com

“I went in with a clear mandate to restart AirAsia X and bring it back to life from hibernation,” said Tony Fernandes. “I am happy that this has been accomplished with a very edifying plan for 20 aircraft for the AAX Group - 13 for AAX and 7 for Thai AAX. After the excellent job led by Lim Kian Onn on the restructuring, my job was to bring the airline back to profitability and growth. We have improved the cost structure, and created the cargo business, which has contributed about 20% to the airline’s revenue during the pandemic and will continue to play a vital role in the recovery of AAX. I am confident that AAX will come back stronger providing a great value mid-range travel, led by the senior leadership teams in Malaysia and Thailand. I’m now going to focus on delivering significant value to shareholders of Capital A, including the AirAsia Aviation Group, aviation services, logistics, travel, fintech and the e-commerce lifestyle platform.”

Tunku Dato’ Mahmood Fawzy will now focus on overseeing the strategic direction and driving sustainable growth for the medium-haul airline group - AAX and TAAX.

“I am thrilled to join the TAAX board of directors as the group embarks on our new phase of growth as a predominantly mid-range airline. Our strategy is to focus on flying our most popular and profitable medium haul routes first, which have proven to be successful in the past including leveraging cargo operations in key markets,” said Tunku Dato’ Mahmood Fawzy. “In just a short period of six months, AAX has already increased its cash flow by over 100% compared to when it restarted in April, with robust plans to continue this positive trajectory moving forward. To cater to the overwhelming consumer demand, the AAX Group has added a significant number of new services for both Malaysia based AAX (D7) and Thailand based TAAX (XJ) over recent times with many more in the pipeline.”

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