KUALA LUMPUR, 20 December 2023: AirAsia X chairman Tunku Dato’ Mahmood Fawzy Bin Tunku Muhiyiddin stepped down last week after successfully turning around the airline post-pandemic.
He ended his service as chairman on 15 December 2023 after achieving a clear mandate to steer AAX out of financial crisis. Following his appointment, AAX has turned around its financial position from 12 quarters of losses to registering fifth consecutive quarters of net profit, recorded a positive shareholders’ equity, and demonstrated significant operational improvement across all other key metrics, as evidenced in the third quarter of this year.
AAX Non-Independent Executive Director and Founder, Datuk Kamarudin Meranun said: “We owe a huge debt of gratitude to Tunku Dato’ Mahmood Fawzy for his invaluable contributions to AAX’s growth and success post-debt restructuring. His vision and dedication have been instrumental in reshaping AAX as a world-leading low-cost mid-range airline, and we stand poised to continue our journey as a trailblazer in the aviation industry, leveraging the strong foundation laid under his stewardship. He will always be part of the AAX family, and we wish him the best in his future endeavours.”
Dato’ Fam Lee Ee, the current Deputy Chairman, will assume the role of acting chairman of the company until the board formalises the appointment of a new chairman.
