After surviving the pandemic and the big losses it caused, AirAsia cofounder Tony Fernandes is spreading his wings again through a new venture in Cambodia and a travel-focused superapp. Malaysian maverick tycoon Tony Fernandes , who built budget carrier AirAsia using the motto “now everybody can fly,” faced disaster during the pandemic, as suddenly almost nobody could fly. The outbreak of Covid-19 forced Fernandes to close AirAsia Japan in 2020 and, in June last year, to sell off its Indian joint venture AirAsia India to Air India and partner Tata Group. As the pandemic crushed air travel, some analysts questioned if Fernandes could keep Kuala Lumpur-based AirAsia afloat. It suffered big losses and mounting debts, with more than 90% of its planes grounded during the worst days of the outbreak. But now, with most travel restrictions lifted, regional travel is booming again. AirAsia is among Asian carriers enjoying high load factors and most of its planes are back in the air. Fernandes used the painful no-fly period to speed up earlier plans to expand the company into a group of diversified travel and lifestyle services. To that end, early last year it was renamed Capital A to signal it […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
