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Seminar paper from the year 2011 in the subject Business economics - Business Management, Corporate Governance, grade: 1,0, Copenhagen Business School, language: English, abstract: This project will outline Tan Sir Anthony Francis Fernandes (Anthony Fernandes) role in the raise of Malaysian based AirAsia, which was named Malaysia Airlines at that time, from being a company close to bankruptcy at 2001, when it was bought by him for a symbolic amount of $0.25 USD to one of the most successful airlines in the world.Fernandes chose to set up an airline in the one of the toughest times of the airline industry; Right after the 9/11 attacks in with hundreds lost their lives and costumers were too scared to fly, additionally were the oil prices quite high and along with the acquisition there came a debt of $11 million USD. (e.g. White 2010) Despite this unfortunate starting position he did not fail. Already in 2002 one year after the acquisition Fernandes was able to take the first profits and in 2008 the revenue already reached 877 million USD. (e.g.Times 2010) He was awarded as "Asia Businessman of the Year" by the Forbes magazine also he became member of the French Legion of honor (for his contribution in aviation industry) and in 2011 her majesty Queen Elizabeth II honored him by appointing him as a Commander of the British Empire. He was honored for his work to promote commercial and educational links between the UK and Malaysia. (e.g.Times 2010) The question arising is how did Tony Fernandes manage to turn a business idea likely to fail in such a big success?
