Tony Fernandes sells all stake in QPR and focuses on AirAsia after ending co-ownership of football club

Kuala Lumpur: Capital A CEO Tony Fernandes Queens Park Rangers Football Club (QPR), the parent company of Queens Park Rangers Football Club (QPR), on Monday (10 July) disposed of all of his shares in QPR Holdings. announced that it did.

Capital A also said the strategic move will allow Fernandez to focus his time and efforts on expanding AirAsia and Capital A’s digital business, driving growth and innovation in these key areas. said to be consistent with the vision.

“It’s a sad day for the club, especially for me, because Tony and I joined the club together[in 2011],” said Ruben Gunneringham, a major shareholder of the championship club.

“There have been some incredible moments in this period, especially our survival in the (English) Premier League in 2012 and our success in the play-offs in 2014.

“We really appreciate Tony’s efforts and will always have a place for him at the club.”

Fernandez, who acquired QPR more than a decade ago along with Ganalingam and Kamaluddin Melanun, said leaving QPR was a difficult decision but needed his time and expertise elsewhere.

“Now that AirAsia is back at full speed and growing again, I am committing to ALLSTARS (airline employees) and shareholders with 100 percent focus on restructuring our airline business and expanding our digital company. , we have an obligation to provide tremendous value to the people.” ASEAN people have a strong demand for low-cost, high-value products and services,” he said.

Fernandez also said he intends to shift his focus to finalizing a normalization plan to lift Capital A out of Practice Note 17 (PN17) status.

“We are encouraged that our exit from PN17 is going in the right direction. We are also accelerating the strengthening of our balance sheets and the building of strong growth models in all businesses ranging from aviation, logistics, travel, fintech digital business and aviation services.” I do,” he added.