AirAsia X (AAX) announced key changes in the senior management team as it prepares for the next phase of growth as a mid-range airline. Tony Fernandes, who was recently appointed as the acting group CEO in addition to his position as a non-independent non-executive director of AAX in July this year, will be stepping down from his senior leadership positions with AAX. Mahmood Fawzy has been appointed as the independent non-executive director of Thai AirAsia X (TAAX). Following the announcement, Fawzy will focus on overseeing the strategic direction and driving sustainable growth for the medium-haul airline group AAX and TAAX.
Tony Fernandes said: “I went in with a clear mandate to restart AirAsia X and bring it back to life from hibernation. I am happy that this has been accomplished with a very edifying plan for 20 aircraft for the AAX Group— 13 aircraft for AAX and seven for Thai AAX. After the excellent job led by Lim Kian Onn on the restructuring, my job was to bring the airline back to profitability and growth. We have improved the cost structure, and created the cargo business, which has contributed about 20 percent to the airline’s revenue during the pandemic and will continue to play a vital role in the recovery of AAX. I am confident that AAX will come back stronger providing a great value mid-range travel, led by the senior leadership teams in Malaysia and Thailand. I’m now going to focus on delivering significant value to shareholders of Capital A, including the AirAsia Aviation Group, aviation services, logistics, travel, fintech and the e-commerce lifestyle platform.”
Fawzy said: “I am thrilled to join the TAAX board of directors as the Group embarks on our new phase of growth as a predominantly mid-range airline. Our strategy is to focus on flying our most popular and profitable medium haul routes first, which have proven to be successful in the past including leveraging cargo operations in key markets. AAX Group is reborn and rebounding fast thanks to strong pent up demand for affordable mid-range travel across Asia and Asia Pacific. The resurgence in AAX and TAAX as leading low-cost carriers in the mid-range category, would not have been possible without the outstanding leadership and support from Tony as Acting Group CEO. In just a short period of six months, AAX has already increased its cash flow by over 100 percent compared to when it restarted in April, with robust plans to continue this positive trajectory moving forward.”