strategic management to achieve their vision and mission and Air Asia is no exception. 2.1 Background Air Asia was established in 1993 . The company commenced its operations on 18 November 1996. It was originally owned by the government-link company ‚DRB- Hicom‚ a heavily –indebted airline company purchased by Tune Air Sdn Bhd ‚ a company belonged to former Time Warner executive Tony Fernandes ’s company . By the year 2002 Tony Fernandes made Air Asia a profitable company and launching new routes from
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OUMM2103 1.0 INTRODUCTION TO AIR ASIA AirAsia 1 : The AirAsia Logo AirAsia was established in 1993 by DRB-Hicom‚ a Government-owned conglomerate. It started operations in 1996. Tune Air Sdn Bhd‚ Tony Fernandes’s company purchased this heavily indebted airline business from DRB-Hicom in 2001. AirAsia managed to become profitable and world renowned low-cost airline through visionary leadership and innovative business approach. Low Cost Carrier Terminal (LCCT) at Kuala Lumpur International is AirAsia’s
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Prime Minister‚ Tun Dr. Mahathir Mohamad in October 2001. Instead of starting from scratch‚ Mahathir advised Fernandes to buy an existing airline instead. AirAsia‚ the heavily-indebted subsidiary of the Malaysian government-owned conglomerate‚ DRB-Hicom‚ was quickly losing money. Fernandes mortgaged his home
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Tony Fernandes founded Tune Air Sdn Bhd in 2001‚ with a vision to make air travel more affordable to Malaysians. With that in mind‚ Tony and his three partners bought over AirAsia from its owner DRB-Hicom. Tune Air’s initial project was to remodel AirAsia into a low fare no frills carrier after successful low fare airlines such as U.S.-based Southwest Airlines and Dublin-based Ryanair and create a new aviation product in Malaysia. Under Tony’s leadership‚ the fledging airline with a RM40 million
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AIR ASIA BERHAD 1. INTRODUCTION Corporate governance is commonly known as the policies‚ practices or procedures a company implements to protect the financial interest of individuals. Publicly held companies are primary users of corporate governance because they sell stock to shareholders‚ who own the company. Several layers of management exist in these organizations‚ requiring shareholders to demand a high amount of accountability. A well balanced framework of accountability that is based
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Syed Azman Ibrahim’s privately held Weststar Aviation is Southeast Asia’s largest helicopter service for offshore oil rigs. Private equity firm KKR invested $200 million last October. Company also imports commercial vehicles and luxury cars‚ and customizes vehicles for the police and armed forces. FED up with traversing the country’s roads to grow his luxury car business‚ Tan Sri Syed Azman Syed Ibrahim acted on a bit of advice that made him one of the richest people in Malaysia. He was told to buy
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domestic and international uflights and is Asia’s largest low fare‚ no frills airline. AirAsia pioneered low cost travelling in Asia. The airline was established in 1993 and started operations on 18 November 1996. A government-owned conglomerate DRB-Hicom originally founded it. On 2 December 2001‚ the heavily-indebted airline was purchased by former Time Warner executive Tony Fernandes’s company Tune Air Sdn Bhd. AirAsia is the first airline in the region to implement fully ticketless travel and unassigned
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BUSINESS ECONOMICS MEA 2013 BUSINESS ICON MUHAMMAD AZRUL ASHRAF BIN BORHANUDIN 1130650 GROUP TMC 4 INTRODUCTION Tan Sri Syed Mokhtar Al-Bukhary is the chosen leader that I want to share in this assignment. Before this‚ we just heard his name without knowing his background. I eager to write about him because he just an ordinary person that doing extraordinary things. He is also the richest Malay in this country and very much respected businessman and philanthropy. I will share with
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air travel began when Tune Air Sdn. Bhd. – founded in 2001 by Dato’ Sri Dr. Tony Fernandes‚ Dato’ Pahamin Ab. Rajab‚ Dato’ Kamarudin Meranun and Dato’ Aziz Bakar - bought over the loss-making‚ debt-riddled AirAsia from HI COM 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
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Air Asia is a carrier which was built up in 1993 and began its operations on November eighteenth‚ 1996. On 2nd December 2001‚ the vigorously obligated carrier was obtained by Tony Fernandes‚ proprietor of Tune Air Sdn Bhd for the token whole of RM1 (Jusmpstart Malaysia‚ 2011). As a feature of the buy‚ Tony likewise took up the RM40million obligation. In any case‚ under the initiative of Tony Fernandes‚ today‚ Air Asia is a world renowned ease carrier that works broad systems both locally and globally
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