Kuala Lumpur, 10  July 2023 – Capital A Berhad (“Capital A” or “Group”) announced today that CEO Tony Fernandes has reduced his shareholding 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. Following this strategic move, which aligns with his vision to drive growth and innovation in these key sectors, Fernandes no longer holds any shares in QPR Holdings Limited.

Since acquiring QPR in 2011, Fernandes has experienced a remarkable journey filled with both triumphs and challenges. Reflecting on his time at QPR, Fernandes stated, "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. 

“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.

“We have truly come a long way over recent times putting in place the right platform for a successful and profitable future, which isn’t solely reliant on selling just airfares anymore. We have a lot more to achieve as we carry out our aggressive expansion plans in Asean and beyond for our airlines and all other affiliate portfolio companies in our ecosystem.”

Fernandes also 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. 

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