TONY FERNANDES DISPOSES OF ALL SHARES IN QPR, TO FOCUS ON REBUILDING AIRLINE BUSINESS
KUALA LUMPUR, July 10 (Bernama) -- Capital A Bhd chief executive officer Tan Sri Tony Fernandes has disposed of his entire shareholding in QPR Holdings Ltd, the parent company of Queens Park Rangers Football Club (QPR).
In a statement today, Capital A said this strategic move, which will allow him to concentrate his time and efforts on expanding AirAsia and Capital A's digital businesses, aligns with his vision to drive growth and innovation in these key sectors.
Fernandes, who acquired QPR in 2011, said stepping away from QPR was a difficult decision, but it has been made with the clear determination that his time and expertise are needed elsewhere.
“Now that AirAsia is coming back in full throttle and growing again, I owe it to Allstars (the airline’s employees) and our shareholders to give 100 per cent of my focus in rebuilding the airline business and expanding digital companies to provide a tremendous value for Asean people, where there is strong demand for low-cost, high value products and services,” he said.
Fernandes also said that he intends to shift the focus to finalising the regularisation plan to uplift Capital A from the Practice Note 17 (PN17) status.
“I am encouraged that exiting PN17 is moving in the right direction. Strengthening the balance sheet and building strong growth models in all businesses from airlines, logistics, travel and fintech digital business and aviation services is also gathering pace,” he added.
-- BERNAMA
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