Revolutionizing Air Travel: How AirAsia Became a Game-Changer in the Aviation Industry
History
AirAsia was founded in 1993 by Tony Fernandes, a Malaysian businessman who had worked for several years in the music industry. Fernandes bought AirAsia for a symbolic amount of RM 1 (approximately US$0.26) and transformed it into a low-cost carrier airline. Initially, AirAsia operated as a full-service carrier, but it struggled to compete with the established airlines in the region. In 2001, Fernandes rebranded AirAsia as a low-cost carrier, offering budget airfare and no-frills services. This was a bold move, as the concept of low-cost carrier airlines was still relatively new at the time.