Tony Fernandes steps down as group CEO of AirAsia X

Tony Fernandes has resigned from his position as the group chief executive officer of AirAsia X Bhd (AAX), citing other commitments.

No appointment of a replacement was announced at the time of writing.

AAX had redesignated Fernandes as group CEO in July 2022.

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

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

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Fernandes said 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.

“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,” he said.

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“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,” he added.

Source: The Star

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