Tan Sri Dato' Sri Anthony Francis Fernandes (born 30 April 1964) is a Malaysian entrepreneur. He is the founder of Tune Air Sdn. Bhd., which took over the first Malaysian budget airline, AirAsia. Fernandes turned AirAsia, a failing government-linked commercial airline, into a highly successful budget airline public-listed company. He has since founded the Tune Group of companies. Until 2021, he was the owner of Caterham Group, the parent company of British car manufacturer Caterham Cars. Until July 2023, he was the majority shareholder of Queens Park Rangers F.C.

Early life and education

Fernandes was born in Kuala Lumpur on 30 April 1964 to an Indian father (originally from Goa) and a mother of mixed Indian (Malayalis) and Asian-Portuguese (Kristang) descent who had been raised in Malacca, Malaysia. At a young age, he would follow his mother who sold Tupperware at Tupperware parties. He matriculated to the London School of Economics and graduated with a degree in accounting.

Career

Fernandes worked very briefly with Virgin Atlantic as an auditor, subsequently becoming the financial controller for Richard Branson's Virgin Communications in London from 1987 to 1989 before he joined Warner Music International London as Senior Financial Analyst.

Fernandes was admitted as an associate member of the Association of Chartered Certified Accountants (ACCA) in 1991 and became Fellow in 1996. He is currently a member of the Institute of Chartered Accountants in England and Wales (ICAEW).

Fernandes was formerly a Warner Music executive in Malaysia, and Vice President, ASEAN at Warner Music South East Asia from December 1999 to July 2001.

AirAsia

It was through the late Datuk Pahamin A. Rajab, the former secretary-general of the Malaysian Domestic Trade and Consumer Affairs Ministry that Fernandes came to meet with then Prime Minister, Tun Dr. Mahathir Mohamad in October 2001. Instead of starting from scratch, Mahathir advised Fernandes to buy an existing airline. AirAsia, the heavily indebted subsidiary of the Malaysian government-owned conglomerate, DRB-Hicom, was then losing money. Fernandes mortgaged his home and used his personal savings to acquire the company, comprising two Boeing 737-300 jet aircraft and debts of US$11 million (RM40 million), for one ringgit (about 26 US cents). One year after his takeover, AirAsia had broken even and cleared all its debts.

He was also instrumental in lobbying the then-Malaysian Prime Minister 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 granted landing rights to AirAsia and other discount carriers.

In 2018 Fernandes announced that more low-cost carrier terminals would be developed, and confirmed that while AirAsia needed new planes, he had not yet decided on an aircraft manufacturer. Fernandes’ plans to expand include bidding on the operations and maintenance contract for Clark International Airport in the Philippines.

In February 2020, Fernandes stepped aside as CEO of AirAsia as Airbus bribery allegations were probed. A month later, Fernandes was reinstated as CEO of AirAsia after the Airbus bribery allegations probe was cleared by Britain's Serious Fraud Office of any wrongdoing.

Other ventures

In 2007, Fernandes started a hotel chain, Tune Hotels, based on the no frills concept. It has properties in Britain, Australia and the Far East.

In March 2012, he served on the International Advisory Board of Global March to Jerusalem, which aims to "mobilize the international community in solidarity with Palestinians and to protect Jerusalem." A joint statement was issued, signed by the various members of the Board, including Fernandes.

In 2013, he hosted the first season of The Apprentice Asia, the Asian spin-off of the reality game show The Apprentice, in which a group of aspiring young businesspeople compete for the chance to work with Fernandes. However, his role will be replaced by founder, chairman, and CEO of ONE Championship, Chatri Sityodtong for the second season in 2021.

In 2017, Fernandes launches his first memoir, Flying High, published by Penguin Books.

In 2018, he was named the head of Malaysia Stadium Corporation (MSC) by the Malaysian Youth and Sports Ministry.

In 2020, he ventured to food delivery as COVID-19 has hit hard on Air Asia.

Caterham Group

Fernandes is the founder of the Caterham F1 Formula One team, which began racing in as Lotus Racing and raced in as Team Lotus. On 2 July 2014, Caterham F1 was sold to a Swiss and Middle Eastern consortium.

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. The losing team's boss would work on the winner's airline for a day dressed as a steward. Branson lost. Fernandes' team produced a poster depicting Branson in an Air Asia uniform. However, the date of the flight was delayed several times: first because of Branson breaking his leg, then because of the royal wedding, and later because of a fire at the Necker Island. On 19 December 2012, Fernandes announced that Branson would honour his bet in May 2013. Branson ultimately honoured the bet on 13 May 2013.

Caterham Racing, also created by Fernandes, competed in the GP2 Series. In October 2014, Tony Fernandes sold the team to Teddy Yip Jr. and he relocated it to Silverstone to merge with Status Grand Prix.

On 27 April 2011, Fernandes announced that his company had purchased Caterham Cars.

Football

thumb|left|Tony Fernandes watching QPR v Newcastle alongside [[Les Ferdinand at Loftus Road, May 2015]]

Fernandes is a fan of English club West Ham United and was involved in talks regarding a potential takeover of the club in May 2011, at which stage it looked as if he was going to acquire a 51% stake in the club. Former West Ham chairman Andrew Bernhardt even flew to Kuala Lumpur to try and finalise the deal, but the two parties failed to agree on the price. It was just one month later when Fernandes made another offer to buy 51 per cent of the club, although co-owners David Sullivan and David Gold rejected his bid. Sullivan told the Evening Standard: "He wanted 51% of the club for two bob." Sullivan's comments started a war of words on Twitter. "It was a good offer with good money and brought in good people," said Fernandes.

"Gold and Sullivan can say whatever they want. I have been a lifelong fan and would have brought good money, good ideas, new people and a new belief. As for PR stunts. Wow. They are always in the press making huge claims. Were we not supposed to be in Europe. Now we have been relegated. Two sacked managers. All good players will be sold. No new training ground which is the most important ingredient I feel. Look at how many injuries we have. And more investment into the academy."

On 18 August 2011, just three months after Queens Park Rangers' promotion back to the Premier League following a 15-year absence, Fernandes was unveiled as their majority shareholder, having bought Bernie Ecclestone's 66% stake. He was also named as chairman of QPR Holdings Ltd.