AIRASIA’S FLIGHT AND PLIGHT
The airline is no stranger to financial difficulty.
Established in 1993, it began flying three years later as a conventional full-service airline – but struggled financially, accumulating around RM40 million in debt.
In 2001, Tune Air, led by Fernandes and Malaysian entrepreneur Kamarudin Meranun, acquired the debt-laden airline for a token RM1 while also taking on its liabilities and subsequently transforming it into a low-cost carrier that would become one of Southeast Asia’s biggest aviation success stories.
Today it operates from hubs in Malaysia , Thailand, Indonesia, Cambodia and the Philippines.
Its fleet of 239…
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