Tony Fernandes Resigns As AirAsia X Group CEO
Tunku Mahmood Fawzy has been appointed as an independent non-executive director of Thai AirAsia X.
By Aqasha Nalani — 01 Nov 2022, 12:12 PM — Updated about 2 years ago
Tan Sri Tony Fernandes has stepped down as group chief executive officer (CEO) of AirAsia X (AAX), almost four months after being appointed to the position
According to a filing submitted to Bursa Malaysia, the airline justified Fernandes' decision to step down by citing "other commitments", reported Free Malaysia Today.
Fernandes was renamed acting group CEO of AAX on 8 July after Thai national Nadda Buranasiri resigned as the group CEO, as well as the CEO of Thai AirAsia X Co Ltd, in April this year.
Meanwhile, executive chairman Tunku Mahmood Fawzy has been appointed as an independent non-executive director of Thai AirAsia X, AirAsia said in a statement yesterday, 31 October
According to the statement, Fernandes also said that he had completed his mandate to restart AirAsia X with a plan for 20 aircraft for the group.
Fawzy will now supervise the strategic direction and drive long-term growth for both AAX and Thai AAX.
Fernandes added that the airline group was able to improve its cost structure and establish a cargo business, which contributed approximately 20% of the airline's revenue during the pandemic
"It will continue to play a vital role in the recovery of AAX," he said.
The AirAsia X co-founder stated he will now focus on delivering value to the shareholders of Capital A, including the AirAsia Aviation Group, logistics, travel, fintech, and its e-commerce lifestyle platform.
