Tony Fernandes divests QPR to focus AirAsia, Capital A

Tan Sri Tony Fernandes

KUALA LUMPUR: Capital A Bhd’s chief executive officer Tan Sri Tony Fernandes has sold all his shares in QPR Holdings Limited, the parent company of Queens Park Rangers Football Club (QPR), in order to concentrate his time and efforts on expanding AirAsia and Capital A's digital businesses.

Since acquiring QPR in 2011, Fernandes has experienced a remarkable journey filled with both triumphs and challenges.

"My time with QPR has been filled with unforgettable highs and lows. On the pitch, there have been special victories, with the highest being the promotion to the Premier League at Wembley Stadium. Off the pitch, QPR’s reputation as a true community-oriented football club is something I will always be proud of,” Fernandes said in a statement.

“While stepping away from QPR was a difficult decision, it has been made with the clear determination that my time and expertise are needed elsewhere. Now that AirAsia is coming back in full throttle and growing again, I owe it to Allstars and our shareholders to give 100% of my focus in rebuilding the airline business and expanding our digital companies to provide a tremendous value for the people of Asean, where there is strong demand for low-cost, high value products and services,” he added.

Fernandes intends to shift his 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 our businesses from airlines, logistics, travel and fintech digital business and aviation services is also gathering pace,” he added.