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Issue:

Business

 

Written by:

Ora N

 

Date added:

October 21, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 1110

 

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10119 times

 

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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 Airlines with promotional fares as low as RM1 (US $0...
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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 Airlines with promotional fares as low as RM1 (US $0.27). In 2003, AirAsia opened a second hub at Senai Airport in Johor Bahru near Singapore and launched its first international flight to Bangkok...
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