We are pleased to quote from the latest issue of Forbes Asia Magazine that “by 2001 low-cost carriers had a decent foothold in North America and, operating from Ireland and the UK, in much of Europe. But as late as 2005 much of Asia still reserved flying mainly for the affluent, using established and often state-owned airlines. But an agent of change was at work to change the terms of the trade. AirAsia, headquartered in Malaysia, was opening up service to multitudes and bringing the world’s fastest-growing region together on a scale that hadn’t been possible. In the latest full year 14.3 million passengers boarded AirAsia. Yet it has not been a smooth flight. Various routines had to be upset in business and political cultures that do not take easily to change. On top of that, the airline industry is notoriously cyclical. In economically fraught 2008 AirAsia suffered a net loss of $144 million. But its pilot persevered, further confounding doubters by enjoying himself all the while. As prosperity again spreads widely in the region, the path for our 2010 Businessman of the Year looks further upward.”
MACD is proud to extend its felicitations to Dato’ Seri Fernandes and wish him further success in future.
For the full story by Brian Mertens, click here.