KUALA LUMPUR: Capital A Bhd chief executive officer Tony Fernandes has sold out of QPR Holdings Ltd, the parent company of Queens Park Rangers Football Club (QPR), to concentrate his time and efforts on expanding AirAsia and Capital A's digital businesses.
According to a statement released today, Fernandes will give full focus in rebuilding the airline business and expanding the group's digital companies to provide tremendous value for the people of Asean.
"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," he said in a statement.
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. Ends