Tunku Dato’ Mahmood Fawzy concluded his tenure as chairman on December 15, 2023, having effectively led AirAsia X out of its financial crisis. Since assuming the role, he managed to reverse the airline's financial fortunes, transforming it from 12 consecutive quarters of losses to achieving five consecutive quarters of net profit.
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AirAsiaTunku Dato’ Mahmood Fawzy concluded his tenure as chairman on December 15, 2023, having effectively led AirAsia X out of its financial crisis. Since assuming the role, he managed to reverse the airline’s financial fortunes, transforming it from 12 consecutive quarters of losses to achieving five consecutive quarters of net profit. This positive trend is reflected in improved shareholders’ equity and noteworthy operational enhancements across key metrics, as evidenced in the third quarter of this year.
Datuk Kamarudin Meranun, AAX Non-Independent Executive Director and Founder, expressed gratitude for Tunku Dato’ Mahmood Fawzy’s significant contributions to AAX’s growth and success following debt restructuring. Recognizing his vision and dedication as instrumental, Meranun highlighted the transformation of AAX into a leading low-cost mid-range airline. The company looks forward to continuing its trajectory as an industry trailblazer, building upon the solid foundation established under Tunku Dato’ Mahmood Fawzy’s leadership. Meranun affirmed that he will always be considered part of the AAX family, extending best wishes for his future endeavors.
Dato’ Fam Lee Ee, the current Deputy Chairman, will assume the role of acting chairman until the board formally appoints a new chairman.
Source: Air Asia X
