success story of airasia
SUCCESS STORY OF AIRASIA
The business world is a tough one. Unless one is lucky enough to establish itself in the market that has very few competitors, every business usually have a very rough time. And in today's scenario, where there is high level of competition not only on the local, regional, and national front, but also from global enterprises, the business world has become a place where it is difficult to even get by.
The airline industry too is one of the toughest and most challenging in the world today, and has been so for last couple of decades, ever since the winds of globalization started blowing all over the globe. It was always a difficult task for an airline to establish itself in a competitive market and Air Asia too faced the same hurdles that many other airlines faced. The difference however, is that Air Asia managed to rise above its initial setbacks and is today one of the most influential and successful airlines in Asia as well as the global aviation sector. The airline was founded in the year 1993 and the first flight of Air Asia took to the skies in November 1996. Within a few years, the airline was heavily in debt and there was talk that the airline would have to wrap up its operations and say goodbye to the aviation sector forever. In the year 2001 however, Tony Fernandes, the business honcho known for his shrewd business skills took an interest in the airline and his company Tune Air Sdn Bhd finally took over the same year at a token amount of just 1 ringgit. At that time, a debt of USD 11 million was staring in the face of the airline and only a miracle could save it.
The miracle was Tony Fernandes and his efficient management and operational executives. After the takeover, Air Asia developed a new strategy to attract customer by offering flights at fares as less as MYR 1. This created a lot of hype for the airline and customers were soon lining up for tickets. Another strategy of introducing new routes and revamping the
The business world is a tough one. Unless one is lucky enough to establish itself in the market that has very few competitors, every business usually have a very rough time. And in today's scenario, where there is high level of competition not only on the local, regional, and national front, but also from global enterprises, the business world has become a place where it is difficult to even get by.
The airline industry too is one of the toughest and most challenging in the world today, and has been so for last couple of decades, ever since the winds of globalization started blowing all over the globe. It was always a difficult task for an airline to establish itself in a competitive market and Air Asia too faced the same hurdles that many other airlines faced. The difference however, is that Air Asia managed to rise above its initial setbacks and is today one of the most influential and successful airlines in Asia as well as the global aviation sector. The airline was founded in the year 1993 and the first flight of Air Asia took to the skies in November 1996. Within a few years, the airline was heavily in debt and there was talk that the airline would have to wrap up its operations and say goodbye to the aviation sector forever. In the year 2001 however, Tony Fernandes, the business honcho known for his shrewd business skills took an interest in the airline and his company Tune Air Sdn Bhd finally took over the same year at a token amount of just 1 ringgit. At that time, a debt of USD 11 million was staring in the face of the airline and only a miracle could save it.
The miracle was Tony Fernandes and his efficient management and operational executives. After the takeover, Air Asia developed a new strategy to attract customer by offering flights at fares as less as MYR 1. This created a lot of hype for the airline and customers were soon lining up for tickets. Another strategy of introducing new routes and revamping the