--- description: In addition to building Asia's most recognizable budget carrier, Tony Fernandes has cultivated an image as likeable tycoon. title: AirAsia missing plane QZ8501: Tony Fernandes and The Airline He Built image: https://static.time.com/v3/assets/bltea6093859af6183b/bltf6fa1d0fb867e225/6987775c3c16397786450e0b/463251021.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [World](/section/world/) ## World Update your preferences in [Account Settings](/account/preferences/) Close * [Aviation](/tag/aviation/) ## Aviation Update your preferences in [Account Settings](/account/preferences/) Close # Tony Fernandes: The Man Who Built AirAsia ## Video: AirAsia Flight QZ8501 Goes Missing Near Indonesia [Watch (HLS stream): AirAsia Flight QZ8501 Goes Missing Near Indonesia](https://cdn.jwplayer.com/manifests/6Cc9dX6x.m3u8) (1:30)  _Published 2014-12-28. The flight went missing early Sunday carrying 162 people, after the pilot requested a change of course due to bad weather._  by [Justin Worland](/author/justin-worland/)  ## Justin Worland Update your preferences in [Account Settings](/account/preferences/) Close Senior Correspondent Dec 28, 2014 7:44 PM CUT  Tony Fernandes, chief executive officer of AirAsia Bhd., poses for a photograph following a Bloomberg Television interview in London, Jan. 17, 2014. Tony Fernandes, chief executive officer of AirAsia Bhd., poses for a photograph following a Bloomberg Television interview in London, Jan. 17, 2014.Matthew Lloyd—Bloomberg/Getty Images  by [Justin Worland](/author/justin-worland/)  ## Justin Worland Update your preferences in [Account Settings](/account/preferences/) Close Senior Correspondent Dec 28, 2014 7:44 PM CUT As soon as AirAsia Indonesia confirmed that [Flight QZ 8501](http://time.com/3647835/airasia-qz-8501-missing-plane-indonesia-singapore/ "undefined") had been lost, the company’s CEO Tony Fernandes took to Twitter to express his dismay > [](https://twitter.com/tonyfernandes/status/549159416335835138) > [](https://twitter.com/tonyfernandes/status/549160305675079681) The spotlight is nothing new for Fernandes, the 50-year-old executive from Kuala Lumpur, Malaysia. In addition to building Asia’s most recognizable budget carrier, the airline executive has cultivated a high-profile image, becoming something like Asia’s version of Richard Branson, the British billionaire who runs Virgin Airlines. When Fernandes took over AirAsia in 2001, the airline had two planes and millions of dollars in debt. Fernandes, who had no previous experience in the airline industry, joined with a group of investors to buy the airline for about 25 cents. Fernandes, who had previously worked in finance for Branson’s Virgin Records, mortgaged his home to make the purchase possible. **Read More:** [Q&A: AirAsia’s Tony Fernandes on Hosting _The Apprentice_ and Hating Check-In](http://business.time.com/2013/10/07/qa-airasias-tony-fernandes-on-sport-hosting-the-apprentice-and-hating-check-in/ "undefined") “It was like the messiah had shown me the way,” Fernandes told [TIME](http://business.time.com/2013/10/07/qa-airasias-tony-fernandes-on-sport-hosting-the-apprentice-and-hating-check-in/ "undefined") in 2013\. “I thought ‘Right, this is my destiny – I’m going to start an airline.” In a short time, Fernandes transformed the airline into a budget carrier offering no frills service at prices that could compete with Malaysian flag-carrier Malaysia Airlines. Now, with subsidiaries like AirAsia Indonesia and AirAsia India, it carries millions of passengers each year to more than 80 destinations. Building the Asian budget carrier Fernandes amassed considerable wealth, $650 million, according to [_Forbes_](http://www.forbes.com/profile/anthony-fernandes/ "undefined"). And, following in Branson’s footsteps, Fernandes has diversified his portfolio with investments in showy personal investments. Fernandes co-owns an English Premier League soccer team, the Queens Park Rangers, along with a Formula One racing team. ### See the Career of AirAsia’s CEO Tony Fernandes  Tony Fernandes, AirAsia's Chief Executive, looks on during an interview at his office in Kuala Lumpur International Airport in Sepang, Malaysia, Aug, 9, 2005\. Purchased in December of 2001 by Fernandes, AirAsia pioneered low-cost travel in Asia. Vincent Thian—AP  Fernandes poses for a photo in a Boeing Simulator after the Air Asia annual general meeting held at Kuala Lumpur, Dec. 28, 2006. Goh Seng Chong—Bloomberg/Getty Images  In addition to AirAsia, Fernandes' other ventures include a budget hotel chain, auto racing, and soccer. Here, Fernandes, then Team Lotus Principal, is seen during qualifying for the Canadian Formula One Grand Prix at the Circuit Gilles Villeneuve on June 11, 2011 in Montreal. Mark Thompson—Getty Images  In August of 2011, Fernandes became the majority owner of the Queens Park Rangers, an English Premier League soccer team. Here, Fernandes celebrates after his team won the Sky Bet Championship Playoff Final match at Wembley Stadium on May 24, 2014 in London. Ben Hoskins—Getty Images  Fernandes and Sir Richard Branson at an AirAsia Cocktail Party in Perth, Australia, May 11, 2013\. Fernandes' public persona has often been likened to that of Branson--and the two are in fact friends. Branson dressed as an AirAsia flight attendant after losing a bet with Fernandes on which of their 2010 Formula One racing car teams would finish ahead of the other. Matt Jelonek—WireImage/Getty Images  Fernandes, center, speaks during a press conference in Surabaya, East Java, on Dec. 28, 2014, following the disappearance of AirAsia flight QZ8501. Juni Kriswanto—AFP/Getty Images Fernandes’ entrepreneurial success also translated into an enviable public following. The CEO shares updates from his day on Twitter, where he has nearly a million followers. In 2013, he played Donald Trump’s role on the Asian version of _The Apprentice._ “I’m amazed at the success of the show,” he told TIME last year. “The best part I enjoyed was seeing 12 kids fighting their guts out…It gave me a lot of encouragement that the future of Asia looks great.” Now, with his airline plane missing over the Java Sea, Fernandes will bring his public leadership style to the search more than 160 missing people who were flying his airline. On Friday, the CEO left for the Eastern Java city where the missing flight began. > [](https://twitter.com/tonyfernandes/status/549112233146322944) > [](https://twitter.com/tonyfernandes/status/549160716775596032) ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/3648012/tony-fernandes-airasia/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/3648012/tony-fernandes-airasia/"},"headline":"Tony Fernandes: The Man Who Built AirAsia","datePublished":"2014-12-28T19:44:47.000Z","dateModified":"2026-05-11T05:06:30.190Z","description":"The Malaysian entrepeneur had no previous experience in the airline industry when he joined with a group of investors to buy the airline for about 25 cents","url":"https://time.com/3648012/tony-fernandes-airasia/","keywords":["Aviation","indonesia","Malaysia","Virgin","Richard Branson","AirAsia"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/bltf6fa1d0fb867e225/6987775c3c16397786450e0b/463251021.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Justin Worland","jobTitle":"Senior Correspondent","url":"https://time.com/author/justin-worland/"}],"articleSection":"World","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/bltf6fa1d0fb867e225/6987775c3c16397786450e0b/463251021.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"AirAsia Bhd. 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