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Showing posts with label Tony Fernandes. Show all posts
Showing posts with label Tony Fernandes. Show all posts

AirAsia-MAS link: A coup for brash Fernandes

AirAsia will acquire a 20.5% stake in ailing
MAS under a share swap deal.
KUALA LUMPUR: Fast-growing budget airline AirAsia will acquire 20.5% of ailing flag carrier Malaysia Airlines (MAS) in a share swap that will see the fierce rivals join forces, the carriers said today.

The deal also gives Malaysia-based AirAsia CEO Tony Fernandes – who took over the no-frills carrier and turned into one of the industry’s biggest success stories – a voice in turning around loss-making MAS.

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