AirAsia co-founder: Tourism is back, but struggle to survive goes on

"If I was Jesus Christ," said AirAsia co-founder Tony Fernandes, not a trace of a smile on his face, "it would be the second coming." Even for a man known for his showmanship and what might politely be termed a strong sense of self-worth, it is a fairly astonishing remark. Still, there's no denying that budget carrier AirAsia, which Fernandes mortgaged his house to start in 2001, had a close brush with mortality when air travel collapsed during the COVID-19 lockdowns. Now the flamboyant, 58-year-old Malaysian tycoon says business is booming as tourism throughout the region roars back. Airlines in the Asia-Pacific region ferried 34.1m international passengers in January and February alone, compared to 5.2m in the same two months of 2022. That period included China's unexpected early reopening in time for Lunar New Year -- peak season for Chinese and Southeast Asian tourists. In late March, Fernandes signed agreements in London to lease 15 new Airbus A321neos to cope with the soaring demand -- he said the airline is selling almost 90% of all available seats. Fernandes signed options for another 15 planes at the same time, he said. Meanwhile, Capital A, AirAsia's parent company, logged its first quarter in the black since the beginning of the pandemic, reporting a net profit of 172m ringgit ($39m) for the last quarter of 2022. The decision to lease new planes came despite AirAsia having only about 70% of its 200 planes in service. The remaining jetliners, having been mothballed during COVID, are at various stages in the process of being returned to airworthiness. In an interview with Nikkei Asia, Fernandes said the full complement is expected to be in service by July or August, six months ahead of earlier projections.<br/>