Open Risk Taker

Open risk taker can be defined as an individual or business that tends to behave in a way that can potentially cause physical harm or financial loss, but might also present an opportunity for a rewarding outcome. For example, here we have Tony Fernandes.

Tan Sri Anthony Francis Fernandes aka Tony Fernandes is a successful Malaysia entrepreneur and he is the founder of Tune Air Sdn. Bhd. He is the one who introduced the famous slogan “Now everyone can fly” with introduction of the low-cost carrier in the Malaysia, AirAsia Airline to the people which aims to make flying affordable so that everyone can fly around the world with transportation fees that cheaper than other airline companies.

Before Fernandes become the co-founder and Chief Executive Officer(CEO) of Air Asia Airline, he worked with Virgin Atlantic as an auditor and financial controller in London after his studies. He has none of experience in managing an airline company. Instead of that, he still has the courage to use RM1 to purchase AirAsia that with RM40 million heavily indebted subsidiary of the Malaysian government-owned conglomerate, DRB-Hirom after he get the advice from 4^th Prime Minister, Tun Dr. Mahathir Mohamad in October 2001. For purchase it, he mortgaged his home and used his personal saving. Besides AirAsia company, his purchase included two ageing Boeing 737-300 jet aircraft. From this, we can see Fernandes have the open risk taker trait.

Beyond expectation after Fernandes take over the company, AirAsia cleared all its debts and it had broken even. His biggest achievement was to open up countries within the region which previously did not have open-skies agreements to new budget carriers. As a result of This based on Tun Dr. Mahathir’s idea with leaders from neighboring countries. Those nations subsequently granted landing rights to AirAsia and other discount carriers.

Fernandes continued to expand and grow AirAsia into what it is today. AirAsia airline is quickly becoming profitable within two years due to the low fare and its high quality service. AirAsia airline has been voted the world's best low cost airline and unprecedented, in six consecutive years from 2009 until 2014. His vision has changed the AirAsia company to pioneer low-cost airlines in Asia and the largest low cost airline in the world. Fernandes is brave to follow and pursue his dream of starting a budget no-frills airline, and this led to his extraordinary success.