Fernandes Says Tune Can Repeat AirAsia’s Success: Southeast Asia

As AirAsia Bhd. prepares to more than triple its fleet, Chief Executive Officer Tony Fernandes says he wants to match the growth of his budget airline with discount hotels, mobile phones and financial services.

Tune Group, the closely held parent company of Fernandes and business partner Kamarudin Meranun, may sell stock in some of the units by the end of next year, Fernandes said. Initial public offerings are also planned for AirAsia’s Indonesian budget arm and long-haul unit AirAsia X Sdn., he said. AirAsia is the world’s fastest-growing traded airline by sales in the past five years, according to data compiled by Bloomberg.