AirAsia Group Berhad
From an airline with two aircraft flying six routes in Malaysia in January 2002, AirAsia has soared in the last seventeen years to cover over 152 destinations in 22 countries. Today, employing more than 20,000 staff and with a market capitalisation of just over RM9.7 billion (as at 17 July 2019), it is the only Truly ASEAN airline, serving the region’s 3.3 billion population from 24 hubs in six countries – Kuala Lumpur, Kota Kinabalu, Kuching, Penang, and Johor Bahru in Malaysia; Bangkok, Phuket, Chiang Mai, Krabi, U-Tapao (Pattaya) and Chiang Rai in Thailand; Jakarta, Bali, Medan, Surabaya and Lombok in Indonesia; Manila, Kalibo (Boracay) Cebu and Clark in the Philippines; Bengaluru, Delhi and Kolkata in India; and Nagoya in Japan.
The quest to democratise air travel began when Tune Air Sdn. Bhd. – founded in 2001 by Tan Sri Tony Fernandes, Dato’ Pahamin Ab. Rajab, Datuk Kamarudin Meranun and Dato’ Aziz Bakar – bought over the loss-making, debt-riddled AirAsia from HICOM Holdings Berhad (now DRB-HICOM Berhad) for a token sum of RM1. The enterprising group quickly settled the airline’s debts and set about rebranding and relaunching AirAsia as a low-fare carrier.
The Group’s entire business model centres around a low-cost philosophy which requires its operations to be lean, simple and efficient.