Virgin partner for FAX

Datuk Tony Fernandes, the boss of AirAsia Bhd, has delivered on yet another promise although it took him over five years to do.

He has brought Sir Richard Branson’s Virgin Group to Malaysia as an investor in Fly Asian Xpress Sdn Bhd (FAX) after speculation that the flamboyant British billionaire was primed to invest in AirAsia during the nascent years of the low-cost airline.

High-flying Branson and Fernandes posing after the signing ceremony in Putrajaya yesterday. — UU BAN / The Star

The signing ceremony between FAX and Virgin for the latter the take a 20% stake in FAX for over US$6mil was held at the Putrajaya International Convention Centre yesterday.

Branson was dressed in a cream baju Melayu and tanjak (headgear) for the ceremony witnessed by Second Finance Minister Tan Sri Nor Mohamed Yakcop.

FAX is the operator of AirAsia X, Malaysia’s only long-haul low-cost carrier that plans to take to the skies in September or early October with Gold Coast in Australia as its first destination.

FAX is a sister company of AirAsia and Fernandes is a founding member of FAX.

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Source : STAR
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