Anthony Francis Fernandes CBE (born 30 April 1964; also known as Tony Fernandes) is a Malaysian entrepreneur and the founder of Tune Air Sdn. Bhd., who introduced the first budget no-frills airline, AirAsia, to Malaysians with the tagline "Now everyone can fly". He has since founded the Tune Group of companies. He rose to prominence by turning AirAsia, a failing government-linked commercial airline, into a highly successful budget airline public-listed company. Fernandes was also instrumental in lobbying the then-Malaysian Prime Minister, Tun Dr. Mahathir Mohamad in mid-2003, to propose the idea of open skies agreements with neighbouring Thailand, Indonesia, and Singapore. As a result, these nations have granted landing rights to AirAsia and other discount carriers.
Born in Kuala Lumpur to a Goan father, and Kristang mother, Ena Dorothy Fernandez. At a young age, Tony used to follow his mother, a businesswoman, to Tupperware dealer parties and conventions. He was educated at Epsom College 1977-83 and then graduated from the London School of Economics in 1987. He worked very briefly with Virgin Atlantic as an auditor, subsequently becoming the financial controller for Richard Branson's Virgin Records in London from 1987 to 1989.Tony was admitted as Associate Member of the Association of Chartered Certified Accountants (ACCA) in 1991 and became Fellow Member in 1996.Upon his return to Malaysia, he became the youngest managing director of Warner Music (Malaysia) Sdn Bhd. Though an accountant, Fernandes is an amateur guitarist and also has achieved grade 8 piano which is where his musical inclination lies. He was responsible for revolutionising ethnic music, nasyid and dangdut, bringing them into the mainstream of contemporary Malaysian music.He subsequently became the South East Asian regional vice-president for Warner Music Group from 1992-2001. When Time Warner Inc announced its merger with America Online Inc., Fernandes left to pursue his dream of starting a budget no-frills airline. However, his application for a license from the Malaysian government was rejected.
It was through Datuk Pahamin A. Rejab, the former secretary-general of the Malaysian Domestic Trade and Consumer Affairs Ministry that Fernandes got to meet up with then Prime Minister, Tun Dr. Mahathir Mohamad in October 2001.AirAsia, the heavily-indebted subsidiary of the Malaysian government-owned conglomerate, DRB-Hicom, was losing money speedily. Instead of starting from scratch, Mahathir advised Fernandes to buy an existing airline instead. Fernandes mortgaged his home and sank his savings to acquire the company, comprising two ageing Boeing 737-300 jets (9M-AAA and 9M-AAB) and USD$11 million (RM40 million) worth of debts, for 26 US cents (one ringgit), and transformed it into an industry player.
Coming just after the 11 September 2001, undoubtedly the worst day in the history of commercial aviation when nobody wanted to fly, everyone thought that Fernandes had gone "crazy", predicting that the company would fail miserably. Yet, just one year after his takeover, AirAsia had broken even and cleared all its debts. Its initial public offering (IPO) in November 2004 was oversubscribed by 130 per cent.Fernandes says his timing was in fact perfect: Since 11 September 2001, aircraft leasing costs were down 40%. Also, airline lay-offs mean experienced staff were readily available. He believed Malaysian travellers would embrace a cut-rate air service that will save them time and money, especially in a tight economy. That was why he copied one of the world's most successful no-frills carriers, Ryanair out of Ireland (which in turn is modelled after Southwest Airlines in the United States). Fernandes thinks that about 50 per cent of the travellers on Asia’s budget airlines are first-time flyers. Before AirAsia, he estimates that only six per cent of Malaysians had ever travelled in a plane.
In 2007, Tony Fernandes started a hotel chain, Tune Hotels, based on the no-frills concept. The first Tune Hotel was opened at the intersection of Jalan Sultan Ismail and Jalan Tuanku Abdul Rahman in the heart of Kuala Lumpur. Expansions are in the works as more hotels will be opened up throughout Malaysia. Another new Tune Hotel will be opening soon in Bali, Indonesia. As of 2009, Fernandes is also the president of the ASEAN Basketball League (ABL). Fernandes has stated that it has always been a dream of his to be able to be involved with the development of sports in the ASEAN region.
Fernandes is the team principal of the new Team Lotus, which raced in the 2010 Formula One season, and has an entry for 2011, albeit with considerable controversy about the Lotus name. The naming dispute with Group Lotus was partly resolved with the ruling that Fernandes is the legal owner of the Team Lotus name and brand in Formula One, although Group Lotus has mounted an appeal. On 16 December 2009, Fernandes accepted a "challenge" from Richard Branson, a fellow airline boss and the owner of Lotus' fellow F1 newcomers Virgin Racing, where the losing team's boss should work on the winner's airline for a day dressed as a stewardess joking "The sexier the better. Our passengers will be delighted to be served by a Knight of the Realm, but knowing Richard, the real challenge will be to prevent him from asking our guests 'coffee, tea or me?' That would be scary." On top of this, the team also produced a poster depicting Branson in an Air Asia uniform.
On 18 August 2011, he was unveiled as the majority shareholder of Queens Park Rangers, having bought Bernie Ecclestone's 66% share. He was also named as chairman of QPR Holdings Ltd.
