AirAsia X names new CEO to take over from Founders
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Malaysia’s long-haul budget carrier AirAsia X on Thursday appointed Nadda Buranasiri as its new group chief executive officer to take over from its co-founders. Buranasiri, chief executive of the Thai arm of AirAsia X since 2014, will replace co-CEOs and co-founders Tony Fernandes and Kamarudin Meranun with immediate effect, the company said in a statement. Fernandes and Kamarudin will become non-executive directors.
In July, Fernandes said AirAsia X was looking to restructure itself into a group holding company along the lines of affiliate AirAsia Group Bhd .
He had also said AirAsia X would focus on flying to countries where it would dominate routes, such as Japan, Korea, Australia, China and India, and remove what he called peripheral routes where no growth was seen.
AirAsia X reported a loss for the June quarter, weighed down by higher fuel prices.
Questions & Answers
Q.What role will the co-founders Tony Fernandes and Kamarudin Meranun now hold at AirAsia X?
What role will the co-founders Tony Fernandes and Kamarudin Meranun now hold at AirAsia X?
Tony Fernandes and Kamarudin Meranun, the co-founders of AirAsia X, will transition from their previous roles as co-CEOs to become non-executive directors at the company with immediate effect.
Q.What is AirAsia X's strategic focus for its flight routes going forward?
What is AirAsia X's strategic focus for its flight routes going forward?
AirAsia X plans to concentrate on routes to countries where it can achieve market dominance. This includes key destinations such as Japan, Korea, Australia, China, and India, while removing less profitable 'peripheral routes'.
Q.What was the main reason cited for AirAsia X's financial loss in the June quarter?
What was the main reason cited for AirAsia X's financial loss in the June quarter?
The company reported a loss for the June quarter, primarily due to increased operational costs. This decline in financial performance was significantly impacted by higher fuel prices during that period.
Q.What structural change is AirAsia X looking to implement for the company?
What structural change is AirAsia X looking to implement for the company?
AirAsia X is looking to restructure itself into a group holding company. This model would be similar to its affiliate, AirAsia Group Bhd, as mentioned by co-founder Tony Fernandes in July.
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