creation of former music publisher Tony Fernandes. After watching a television show in a pub about easyJet successfully competing against British Airways‚ Fernandes decided to start his own low cost airline. He then met with former Ryanair operations director‚ Conor McCarthy and the two developed a plan on starting up a LCC to serve South-East Asia. The plan started with a meeting with the prime minister of Malaysia. Prime Minister Mahathir Mohammad suggested that Fernandes and McCarthy acquire AirAsia
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later bought by Anthony Francis Fernandes that commonly known as Tony Fernandes. On September 2011‚ Fernandes bought this airline for one ringgit. It is an airline that only owned two ageing Boeing 737 jets‚ 200 employees and 40 million ringgit in debt. Fernandes who was a former music executive successfully turn the company around. After a year operating‚ the company broke even then turned it into a profitable airline within two years (The story of Tony Fernandes and AirAsia‚ 2013). Fernendes reformed
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Case Study – AirAsia Formula(on Valida(on In 2001‚ Time Warner Execu(ve Tony Fernandes purchased the ailing‚ debt-‐riddled‚ government-‐owned AirAsia. In a remarkable feat (using blue ocean strategy principles) Fernandes engineered a remarkable turnaround‚ turning a profit in 2002 and swiJly opening mul(ple new routes
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providing low-cost air carrier service. In the year of 2002‚ with the heavily in debt of sum about rm40 million‚ the company which first owned by DRB Hicom was purchased by Tune Air Sdn Bhd‚ executives by Tony Fernandes. The very man which acts as the brain of the company is named as Tony Fernandes. This man is the man behind the scenes that brings Air Asia from zero to hero. With the famous slogan “Now everyone can fly”‚ Air Asia heavily concern on bringing the low price of aviation service to the
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industry started based on the low cost carrier (LCC) concept in Malaysia. The low cost concept is introduced in the year of 2001 with the belief that “Now Everyone Can Fly” by Tony Fernandes. AirAsia was first established in 1993 and began its operation on 18 November 1996. In the year 2001‚ Anthony Fernandes (or known as Tony Fernandes) bought the airline which is suffering a loss. It was re-established as the low cost carrier after the bought over. AirAsia’s vision is to be the largest low cost airline
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70 in 19 countries Company slogan : Now Everyone Can Fly Parent company : Tune Group Headquarters Registered office : Petaling Jaya‚ Selangor Head office : Kuala Lumpur International Airport Sepang‚ Selangor Key people : Tony Fernandes (CEO) Azran Osman Rani Revenue ▲ RM 2.635 billion (2008) Operating income ▼ RM -416 million (2008) Net income ▼ RM -497 million (2008) Total assets ▲ RM 9.521 billion (2008) Total equity ▼ RM 1.606 billion (2008) AirAsia
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started operations on 18 November 1996. It was originally founded by a government-owned conglomerate DRB-Hicom. On December 2‚ 2001‚ the heavily-indebted airline was purchased by former Time Warner executive Tony Fernandes’s company Tune Air Sdn Bhd for the token sum of one ringgit. Fernandes proceeded to engineer a remarkable turnaround‚ turning a profit in 2002 and launching new routes from its hub in Kuala Lumpur International Airport at breakneck speed‚ undercutting former monopoly operator Malaysia
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started operations on 18 November 1996. It was originally founded by a government-owned conglomerate DRB-Hicom. On December 2‚ 2001‚ the heavily-indebted airline was purchased by former Time Warner executive Tony Fernandes’s company Tune Air Sdn Bhd for the token sum of one ringgit. Fernandes proceeded to engineer a remarkable turnaround‚ turning a profit in 2002 and launching new routes from its hub in Kuala Lumpur International Airport at breakneck speed‚ undercutting former monopoly operator Malaysia
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1.0 Introduction Our MKT303/310 lecturer‚ Mr. Lawrence Sheah had assigned us a group assignment which takes up to 30% of the coursework. This group assignment has been done by Teah Su Hoey‚ Angel Chia‚ Lo Sau Fui and Shim Yun Khi. In this assignment‚ students are needed to select any one local or multinational service company to do a research report regarding on how the company plan‚ decide and execute their service marketing activities in order to compete and to survive in the competitive business
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established with the dream of making air travel possible for everyone and it is now one of the world’s best low-cost airlines. AirAsia was the first airline in Asia to introduce the budget‚ nofrills airline concept. It was founded in 2001 by CEO Tony Fernandes and this three partners when their company‚ Tune Asia Sdn Bhd‚ bought the fledging AirAsia‚ a Malaysian government-linked airline. Since then‚ the growth of this LCC has been the envy of many. It started with two old Boeing 737s serving the domestic
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