Air Asia airline is one the Malaysian’s most preferred airlines because of their low cost airline. The airline was established in 1993 and began its operations on 18 November 1996. It was originally initiated by a government-owned multinational firm which is DRB-Hicom. The airline has a major debt problem which caused it to nearly collapse. Time Warner executive, Tony Fernandez acquired the corporation with the sum of one ringgit through his company Tune Air Sdn. Bhd. This was after great deliberation as the initial offer was fifty cent. Fernandez proceeded to engineer a remarkable turnaround, turning a profit in 2002 and launching new routes from its hub in Kuala Lumpur International Airport at breakneck speed, undercutting former monopoly operator Malaysia Airlines with promotional fares as low as RM1.
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