LEADERSHIP IN ORGANIZATION

TONY FERNANDEZ
AIR ASIA CEO
PREPARED FOR PROF. DR. P R BHATT

PREPARED BY

SHAHRIN MOHAMED NASIR NOR AFIZAH ABD SAMAD

805513 806578

NORHASHIMA MOHD HASHIM 807438

Leadership in Organization Tony Fernandez

TONY FERNANDEZ: Air Asia

Malaysians had been used to having only one airline, MAS. When AirAsia came into the picture all of a sudden, people were understandably sceptical. They doubted the viability of this new player, a small-time budget airline. When AirAsia first leapt onto the scene, many smiled and gave it three months to announce its closure due to bankruptcy or the inability to stand up to the big boys or to some other excuses. The market also believed that AirAsia could only expand by setting up more hubs in regional cities and continuing to add new routes, all within the three hours radius. When AirAsia held its first press conference, one reporter asked a question that effectively conveyed the pessimistic sentiment of the market towards the launch of the budget airline:Will you survive the first three months? AirAsia took off, just as Tony had said it would. The airline was re-launched in January 2002, with only three aircraft and a seat-mile cost that was half that of the national carrier, Malaysia Airlines. The fare from Kuala Lumpur to Penang was only RM39, lower than the cost of bus tickets at RM40. Malaysians loved it and they loved it more when AirAsia embarked on an aggressive campaign to draw passengers by giving away free tickets. After only seven months in operation, the airline announced great news in December 2002: RM113 million in revenue, RM19.4 million in profit, 1.1 million passengers and the majority of outstanding balances settled. Initially, Tony and his team of backers had thought they were going to lose RM26 million, but they end up gaining about RM20 million in just seven months.
2

Leadership in Organization Tony Fernandez

Within two years, Fernandes proved the critics wrong and was able to turn AirAsia into a profit-making company modelled after the successful operations of the United States-based Southwest Airlines, Dublin-based Ryanair and United Kingdom-based Virgin Air. AirAsia was listed in the Kuala Lumpur bourse within three years of operation, on 22 November 2004, with one of the largest IPO offer of RM717.4 million (AirAsia, 2008). In addition, AirAsia won many accolades including certification by Superbrands International. For his achievements, Fernandes was awarded the Best Entrepreneur of the Year by Ernst & Young Entrepreneur Award in 2006 (AirAsia, 2008). In March 2006, AirAsias passenger load expanded to such a capacity that a new low-cost terminal (LCCT) was built for it. This LCCT can accommodate 10 million passengers annually and has 30 parking bays for the aircrafts (AirAsia, 2008). The expansion was constant over those first few years. It remained a domestic-only airline until 2003 when a second hub at Johor Bahru also began staging flights to Bangkok. AirAsia later expanded its services to locations in Indonesia, China (including Macau), Vietnam, Cambodia and the Philippines. Even as the world economy has soured, the airline and its subsidiaries have grown to add Sri Lanka, Bangladesh and even the United Kingdom (pictured) to its route map. Throughout all of this, and still today, Fernandes plays a hands-on role. Indeed, he says, having that direct connection with staff and operations allows him to make dynamic and effective decisions as they are needed. I see to it that I understand how the various departments work and what better way to do this than to go hands-on, he says. Ive seen firsthand how guests and our staff interact, and experience in this has led to improvements in various areas including HR policies. So great was AirAsia's impact that analysts said the airline, with its minimal fares, was living up to its tag line which said 'Now Everyone can Fly.

Leadership in Organization Tony Fernandez

Background of Dato Tony Fernandes

Tony was born in Malaysia in 1964. He attended boarding school in the UK in 1977, and ended up staying on in England for 13 years. Quite the sportsman, Tony relished cricket, football and squash. His passion was cricket, and he aspired to become a professional cricket player, but did not quite make the cut. He studied accounting and became an auditor instead, after graduating from the London School of Economics (LSE) in 1987. The job however proved too boring for his adventurous spirit and he gave it up after only six months. He looked for something a little more exciting, and set his sights on the music industry. Indeed, Tony has always loved music. He is an amateur guitarist and enjoys playing the keyboard and the drums. After turning his back on auditing, Tony sent his resume to record companies. He got a job in the finance section of Virgins television department. He was there for two years, from 1987 to 1989, when he moved to Warner Music International London as senior Financial Analyst, a post he held until 1992. Tony was transferred to Malaysia as General Manager of Warner Malaysia. Within six months, at the age of 28, he was appointed Managing Director, becoming the youngest candidate in the companys history to hold the post.

Leadership in Organization Tony Fernandez

In August 1996, he became Regional Managing Director ASEAN, holding the post until December 1999, when he rose to the post of Vice President of Warner Music Southest Asia. He held this post until July 2001. Tony had an amazing childhood. It was an interesting life. His mother was a very right-wing capitalist, and his father very left-wing in contrast. His mother was a great influence on him. My mum was an amazing woman. She used to go around Malaysia selling Tupperware. It was an amazing life growing up with her. There was one time when nearly 600 women were gathered in one place and going crazy selling Tupperware, while I was playing the piano sitting on the yellow pages (for height), with my mother getting the women to sing some songs. Tony admires his mother, who also used to compose her own songs, so much that there are only compliments in his remembrances of her. My mother could sell ice to an Eskimo. She was an amazing woman, and I learnt a lot from her. When age died, she left a big void in Tonys life. She died when I was fifteen. It was very hard because when she died, I was in boarding school in England. But I had to move on and cope with it. I think my mother was a major influence in my life. Then there was his father, a communist doctor who did not believe in private medicine. My father was a very good man. When he started his clinic, he did all this social work, and then a few years before he died, he said he wanted to go into private medicine. So he bought a clinic, called Clinic Hope, in Sungai Besi, and all his friends called it the last hope, say Tony with a big smile. Every month I was giving money to him, and I was like thinking, what kind of clinic is this? All the others doctors make so much money, but not my father. So I asked my staff to go and take a look at what was happening at the clinic. Six hours later, the report reached him: Your father is a great guy, i salute him.... When Tony asked why the clinic seemed to be losing so much money, the answer was, Oh, he gives out medicines for free.

Leadership in Organization Tony Fernandez

That meant, of course, that Tony was subsidising all his fathers patients, without meaning to! His father was indeed a good man, and Tony respects him for his well-meaning, generous heart. I had a great childhood, a very enjoyable childhood, Tony concludes with satisfaction. Achievement Fernandes has received several awards for his outstanding achievements: 1. International Herald Tribune Award for the "Visionaries & Leadership Series", for his outstanding work in AirAsia; 2. "Malaysian CEO of the Year 2003" in December 2003 a highly acclaimed recognition, so far awarded to only nine other recipients in the country, by American Express and Business Times. The award was an initiative to recognize entrepreneurial and managerial expertise and performance among leaders of Malaysian corporations. 3. Named the joint winner of the CEO of the Year 2003 award by American Express Corporate Services and Business Times . 4. "Emerging Entrepreneur of the Year" in the Ernst & Young "Entrepreneur Of The Year Awards" in 2003; 5. Made the list of Business Week's "25 Stars of Asia" in 2005. 6. "Malaysian Ernst & Young Entrepreneur of the Year 2006" 7. Fernandes has also been honoured by the Malaysian government with title Dato.

Leadership in Organization Tony Fernandez

AirAsia Background

AirAsia, initially a national carrier, was established by DRB-Hicom Bhd in late 1996. It was birthed along with an ambitious expansion plan, but those plans were rudely curtailed when Tan Sri Yahaya Ahmad, the former owner of DRB-Hicom, died in a helicopter crash in March 1997. The conglomerate was thrown into a management crisis and things even

bleaker when the Asian financial crisis hit the region at the same time. AirAsia lost money and went into debt. Tony Fernandez was Vice President of Times Warner Music Southeast Asia. As a music guy, Tony knew nothing about aviation or how to run an airline company, so he lost no time in getting help from an executive at GE Capital Aviation Services to brief him on how the airline industry works. That connection led to a meeting with Conor McCarthy, former Chief Operating Officer at Ryanair in 2001. However, McCarthy turned down the proposal. Tony and the team, drafted a new plan based on budget airlines around the world and adapted the model to suit operations in Malaysia, then they met with Tun Dr Mahathir Mohamad, Malaysias Prime Minister at the time to propose this exciting new venture. The outcome was positive, but the prime Minister was clear that Tony would have to acquire an existing airline as the government would not issue a licence for a new one. According to Fernandes, it is not easy to sell the idea of operating an airline particularly to the government.
7

Leadership in Organization Tony Fernandez

In fact, his request for a license to operate from the government was rejected on two previous attempts. Eventually, Tune Air Sdn Bhd, literally for a song, was formed by Tony Fernandes and four entrepreneurs, some of whom had worked with the music industry which perhaps inspired the name of the company took over AirAsia from DRB-Hicom on 8th December 2001 for RM1, together with its two Boeing 737-300s, a tiny route network and nearly RM40 million in debts. By that time, Tony had resigned from Times Warne and sold his share options for USD70 per share. He had also mortgaged his house to help finance the acquisition of AirAsia.

Dearly anticipated

The airline grew steadily in 2004. AirAsias march towards a listing on Main Board Of Malaysia Stock Exchange was consolidated by the fact that it already had 22 routes from KLIA, another five from Senai and 10 from Bangkok, both domestic and regional. On 22 nd November 2004, AirAsia became an officialy listed company. milestone, after its seven month legendary turnaround The September 11 terrorist attacks in the New York cast a shadow on the aviation industry that lingers on until today. The bombings in Bali and Phuket did not help either and neither
8

It had achieved another

Leadership in Organization Tony Fernandez

SARS and the bird flu. The wars in Afghanistan and Iraq caused oil prices to surge to unbelievably high levels, as well as insurance premiums to escalate. These difficulties knocked down passenger volume for many airlines around the globe, AirAsia being no exception. Tony Fernandes however, saw opportunity for the airline industry after the 9/11 tragedy. Expecting a significant number of layoffs within the industry, he knew where hiss pool readily-available, highly experienced staff was going to come from. The cost of aircraft leasing also went down by 40 per cent, leading to huge savings for AirAsia.

The concept of low-cost service

Tony loves the concept of low-cost service.

He believes that AirAsia has set a trend that

many other services providers can follow to provide quality service and expand their markets at the same time. You have to make sure you have the right people, focus and discipline. With AirAsia X, they wanted to put in-flight entertainment, i said no way, because itll waste money. In flight entertainment would cost the company nearly RM5 million, which the airline would not be able to recover. Most of our flights are only seven to eight hours anyway. Just bring a book and hold your boyfriends hand for longer. Not only waste money, it is also a kind of discipline in running the business. He explains that it is pointless to do something just because everyone else is doing it. A service providers
9

Leadership in Organization Tony Fernandez

success rests on being able to give the client what he really wants. The biggest, most important thing to my passengers is the low fare. Being on time, being safe and efficient are important. important. The rest are really added frills...I dont want to do that. So discipline is

ASEAN has got 600 million people, while America has only a 350 million population, and Europe, 300 million. And that does not include India and China. Look at Shen Zhen, that is the route that has never really been done before. Within two weeks, we have been full every day, and we are adding a second flight. There is huge potential. Says Tony The internet is a key tool in AirAsias low-cost business. Tony remembers how people laughed when he announced that AirAsia would sell products through the Internet. Now, however 75 per cent of AirAsia and Tune group customers do business with the companies through the internet. The best thing about doing business through the Internet is that it does not require a lot of investment. We put a lot into technology development. Like buying into mobile phone and self-service check in, but in relation to capital expenditure of planes or engineering spare parts, its tiny, he adds. The plus for AirAsia is that it does not own the technology. Tony elaborates, I dont believe in owning technology. Like you buy a mobile phone, one year later its out of date. So its better to rent. Our strategy from day one is not to own, but to rent.
10

Leadership in Organization Tony Fernandez

The power of Branding

Tony Fernandes believes in the power of branding.

He once claimed to be the most

accessible CEO around, as every media group had his mobile phone number. Although he does not answer calls all the time, being busy at meetings or travelling, he does reply via SMS to media questions. It helps that the media can contact him directly as there are times when his own marketing and promotions people do not know where he is, as Tony is always on the go. People havent really understood why Im sponsoring Formula one teams or Manchester unite. If you to be a global player, you have to tell the world about yourself. The SARS outbreak in Asia impacted regional tourism in a very negative way. AirAsia was only three years old at the time. Tony noticed tha the malay press did not cover the outbreak as widely as the Chinese press did, and so he began advertising heavily in the Malays newspaper.

11

Leadership in Organization Tony Fernandez

By advertising the airlines services when other airlines were quiet, Tony got AirAsia noticed by ardent travellers. Tony himself is a walking advertisement for AirAsia, appearing in public on all official occasions in his AirAsia cap and T-shirt. Tony once joked at an interview that people only recognised him because of the cap he was wearing, adding that ...if I take off this cap, you will see me as just another Indian guy! Tony believes branding should be an inside-out exercise. He has spent half his time on internal branding, as he knows that a company need to be able to sell its services to its own people first before it can be successfully approach outsiders.

Equal Opportunity
To motivate staff, Air Asia offers the opportunity to every qualifying permanent staff, from bag handlers to flight attendants, to become pilots after thorough training at its flight academy. Trainees are not bound by any rules to devote all their time to the airline. One Thai pilot cadet, Chanaporn Rosjan, in fact participated in a local beauty pageant and went on to win becoming Miss Thailand 2005. Fernandes has created a culture of teamwork, equality and constant communication. AirAsias headquarters at the Kuala Lumpur Low-Cost Carrier Terminal is staunchly open12

Leadership in Organization Tony Fernandez

plan. No staff, not even myself, have an individual office. This aims to ensure staff of all levels are continually in contact with each other, enhancing the opportunities for innovative thinking and creative ideas. Fernandes says that constant focus on innovation has been the airlines main weapon against the economic downturn. All of us here are fully aware that if we dont innovate and come up with creative solutions, AirAsia is in trouble.

Building a team
Building a unique culture starts at the recruitment stage. Its something Fernandes takes a close interest in as he continues to build on a successful team. We look for people who are fun, friendly, smart, caring and innovative, he says. Diversity is also important. Hiring without prejudice against race and sex is in AirAsias DNA, he says. As such, the airline was one of the first in Asia to hire female pilot crew. Fernandes says he finds the gender imbalance of flight crews strange. I wonder why more airlines wont cast their hiring net wide to include women, he says, but notes that this is something AirAsia has been able to take advantage of in labour markets. In a way that line has been good for AirAsia as it means more in the talent pool for us to mine youd be surprised by the number of girls who dream of flying planes. Male or female, and no matter what the designation, once staff are on board, Fernandes actively encourages their creativity in a number of ways. As well as the open-plan offices, ideas are actively shared through the organisations HR policies, procedures and communication platforms. We encourage (innovation) through an intranet that enables ideas, suggestions and critiques to be swiftly shared throughout the company and a staff thats passionate and hard-working. Fernandes says the innovation culture is not just about the big things. Even small ideas add up. For a low-cost airline, turnaround time is a crucial element. The more time AirAsia planes are in the air, the more revenue can be garnered. He says it is thanks to innovative procedures and systems that the company is able to boast one of the fastest turnaround times in the world just 25 minutes.
13

Leadership in Organization Tony Fernandez

He lays the credit for those successes squarely with his staff base. Our people are the ones who deserve credit for helping us get to where we are today; and for pushing us to even higher levels in the weeks and months ahead. The company offers plenty in return. As well as competitive salary packaging and that encouraging culture, Fernandes says opportunities to develop talent are what keeps AirAsia staff sticking with the company. AirAsia believes in personal and professional growth, he says. Encouraging professional growth within the company is vitally important to keeping happy, productive staff and staying ahead of business competitors. To this end, all staff of all designations and levels are given training and development opportunities. We do our best to help everyone in the team grow in their careers by offering training programmes to help employees hone their skills; and by providing a challenging work environment, he says. Fernandes and his senior managers also pay close attention to high potential talent throughout the airline. We actively keep an eye out for talents we can develop. AirAsia benefits from staffs that is confident and very much competent in its role in growing the airline.

A friend in need
Part of the AirAsia culture also centres on giving back to the communities in which the airline serves. Since first taking on the airline, Fernandes has been a strong proponent of corporate social responsibility (CSR) and has made sure the airline can stand tall in this arena. But this is more than just doling out money or volunteer hours. As an airline, AirAsia is in a unique position to make a real and immediate difference. For example, Fernandes says aid workers are offered free transport to and from disaster areas in the wake of natural calamities. AirAsia shares in the responsibility of promoting wellbeing in the world, Fernandes says. When we help those affected by calamities, we share the burden of their loss and grief and help them heal faster from these.

14

Leadership in Organization Tony Fernandez

Fernandes says the focus on CSR is in line with his own philosophies of internal HR. At AirAsia, it is an imperative that is practiced by our own internal policies: creating a meritocracy, gender neutrality, and developing professionally skilled and socially-responsible citizens.

Financial Facts

In financial year 2007, AirAsia earned RM498 million in net profit - a magnificent grow of over 290 times from the earnings in the financial year 2002.
AIRASIA FINANCIAL PERFORMANCE FOR YEAR ENDED 30-Jun (RM million) Revenue Pretax profit/(loss) Net profit /(loss) 217.0 (1.6) (1.7) 330.0 11.5 18.8 392.0 61.3 49.0 666.0 126.0 112.0 1058.0 86.1 202.0 1603.0 278.0 498.0 2002 2003 2004 2005 2006 1 H 2007

15

Leadership in Organization Tony Fernandez

AirAsia makes huge profits with its low fares which attract huge numbers of flyers. However, ticket sales are not its only source of revenue. Heres a summary of AirAsias financial accounts for the year 2007:

12-months Ended: 30 June RM'000 Ticket Sales Ancillary income Revenue EBITDAR EBIT Pretax profit Net Income (including deferred tax assets) EBITDAR margin Pretax profit margin Net Income margin

FY 2007 (RM MILLION) 1,494,115 109,146 1,603,261 490,026 280,593 278,048 498,057

FY 2006 (restated) 996,470 61,637 1,058,107 253,926 117,620 86,174 201,702

FY 2006 vs FY 2006 50% 77% 52% 93% 139% 223% 147%

30.6% 17.3% 31.1%

24.0% 8.1% 19.1%

6.6ppt 9.2ppt 12.0ppt

From July 2006 to end of June 2007, AirAsia sold close to RM1.5 billion worth of tickets. Ancillary Income derived from sources other than ticket sales. AirAsias ancillary income for 12 months ending June 2007 was a whopping RM109 million. Where does this revenue come from? More places than we can think of. There is, of course, the onboard meal that travellers have to pay for. AirAsia sells them at three to five times their regular price.
16

Leadership in Organization Tony Fernandez

Then theres the Xpress Boarding plan, where for an additional RM10 (RM5 for senior citizen and children), travellers may board the aircraft ahead of everybody else. RM10 does not seem like a lot, but it can add up. AirAsia flew 14 million passengers in 2007; assuming that 1% of this number paid the RM10 to board their aircraft earlier, AirAsia would have made an additional revenue of 140,000 passengers x RM10=RM1.4 million. If 10%,

AirAsias revenue would have been RM14 million. This would all clean profit since no real costs were involved in selling as the passengers were already accounted for. The co-branded Citibank-AirAsia credit card that anybody can apply is another additional revenue earner. AirAsia in return may get certain rabates from Citibank each time their customers use the credit card, or from its card membership fee. As a traveller, you will have needs. You will want to buy holiday packages, travel insurance and accommodation and maybe rent a car when you arrive at your destination. Thus AirAsia seeks out insurance companies, hotels, car rental companies and cruises to partner with so that it can resell their products and service for additional revenue. Finally, theres the revenue generated through advertising, such as from providing advertising space on the side of the stairs leading into the aircraft, at the back of each seat, at the back of the meal tray behind each seat, on overhead bins, air sickness bags, on the Airasia website that draws hundreds of thousands of visitors every month, and in the airlines new-in flight magazine which is expected to have at least 700,000 a month and an expected advertising revenue in excess of RM1 million within its first year of launching. With the low-cost carrier model, AirAsias ancillary income plays a very important part in its revenue.

17

Leadership in Organization Tony Fernandez

Strengths of Dato Tony Fernandez

Tony Fernandez has his own strengths that make him become a leader where he has high degree of emotional intelligence, IQ and technical skills. He has the element of self awareness, self regulation, motivation, empathy and social skill where all of these elements are the component of emotional intelligence. Fernandez aware with ones emotion, values, strengths, weakness, needs and drives and also the impact on others. He has high self confidence in starting airline business even though he had no knowledge in this industry and aware with the risk that he will burden like need to cover back the outstanding debt. Besides that, Fernandez himself has very high motivation in running airline business. He wills to do everything in order to success in this industry. One of example that we can see is when he and his team drafted a new plan based on budget airlines around the world and adapted the model to suit operations in Malaysia. After finished it, they met with Tun Dr Mahathir Mohamad, Malaysias Prime Minister at the time to propose this exciting new venture even he failed to get the licence to operate from the government on two previous attempts. Fernandez also have very creative idea that bring him to new challenging perspective by introducing concept of low cost service. This concept provides lower fare to customer but at the same time being on time, safe and efficient. There are no airline company that willing to give low cost service to customer in order to avoid loss but not Fernandez. Tony also is the first leader that use internet to sell his products and dos not owning his own technology. This Air Asias leader also focuses on his staff and people surrounding him. He has develop his own social network with others people with the purpose to expand his business and tell outsider regarding his airline business. So, as the result Air Asia will be known by others and can gain profit. One of the activity done by Tony is sponsoring Formula one teams or
18

Leadership in Organization Tony Fernandez

Manchester unite. Tony also actively involved in social responsibility like aid workers are offered free transport to and from disaster areas in the wake of natural calamities. In term of his staff, Tony had provided many reward and recognition to them, give professional training for them to become a leader, and create a very good environment among them, so that they can communicate freely. We can see that Tony Fernandez have the eight practices to be affective leader consist of he know what needs to be done, what is right for organization, had develop action plan, responsible in his decision, responsible for communicating, focus on opportunity rather than problems, run productive meeting and involved many people rather than himself only.

19

Leadership in Organization Tony Fernandez

Types of Leadership
Tony Fernandez has various type of leadership. We can see that from the background and the way he manage Air Asia, we can describe him as transformational and authentic leader. Transformational leadership is defined as a leadership approach that causes change in individuals and social systems. It is also refers to leader who inspire followers in many ways such as enhances the motivation, morale and performance of his followers through a variety of mechanisms. It can be seen when leader is always connecting the follower's sense of identity and self to the mission and the collective identity of the organization, being a role model for followers that inspires them, challenging followers to take greater ownership for their work, and understanding the strengths and weaknesses of followers. As the result, the leader can align followers with tasks that optimise their performance and at the same time it creates valuable and positive change in the followers with the end goal of developing followers into leaders. Meanwhile, authentic leadership can be define as an individuals who are deeply aware of how they think and behave and are perceived by others as being aware of their own and others values/moral perspective, knowledge, and strength; aware of the context in which they operate; and who are confident, hopeful, optimistic, resilient, and high on moral character. Authentic leader also transparent and fair, balanced decision maker. They demonstrate a passion for their purpose, practice their values consistently and lead with their hearts and their heads. Tony Fernandez is said as transformational and authentic leadership because we can see that he done many things for his organization, staff, and also others people. He inspires his followers with his idea, action, attitudes and also the way he treats and communicates with person surrounding him. In Air Asia itself, he implements the concept of equal opportunity
20

Leadership in Organization Tony Fernandez

between his followers. This concept is for the purpose of giving motivation to his followers so that they can work in positive environment. One of the equal opportunity is when Air Asia offers the opportunity to every qualifying permanent staff, from bag handlers to flight attendants, to become pilots after thorough training at its flight academy. Air Asia is the first airline that hires female pilot crew. Besides that, trainees are not bound by any rules to devote all their time to the airline like Chanaporn Rosjan, Thai pilot cadet in fact participated in a local beauty pageant and went on to win becoming Miss Thailand 2005. Fernandes also has created a culture of teamwork, equality and constant communication like what he did at AirAsias headquarters where it is staunchly open-plan. This aims to ensure staff of all levels are continually in contact with each other, enhancing the opportunities for innovative thinking and creative ideas. Beside of the concept of equal opportunity, there are a lot of factor that can describe Fernandez as transformational leadership and authentic leader. As a very good leader, Fernandez build a unique culture starts at the recruitment stage to create a successful team. He also lays the credit for those successes squarely with his staff base, offers plenty in return in term of competitive salary packaging so that Air Asia can keeps it staff sticking with the company, happy, productive staff and staying ahead of business competitors.

Transformational leader always has goal to develop his follower into leaders, so with that goal, Fernandez helps his staff in personal and professional growth. All staff of all designation and level is given training and development opportunities and pay close attention to high potential talent in the airline.

21

Leadership in Organization Tony Fernandez

References 1. The AirAsia Story by Sen Ze and Jayne Ng 2. Report of the Study Meeting on Creative Entrepreneurship held in Taipei, Republic of China, 1821 May 2004 Edited by Prof. Tan Wee Liang 3. http://www.hrmasia.com/case-studies/airasia-the-sky-is-the-limit/38332/ 4. An Airline: A Case Study of AirAsia by KHOR YOKE LIM, RAMLI MOHAMED, AZEMAN ARIFFIN & GERALD GOH GUAN

22