November 1, 2018 / 11:49 AM / 14 days ago

AirAsia X names new CEO to take over from co-founders

Tail of AirAsia X plane as seen at the Garuda Maintenance Facility AeroAsia in Tangerang, Indonesia, September 20, 2017. Picture taken September 20, 2017. REUTERS/Beawiharta

KUALA LUMPUR (Reuters) - Malaysia’s long-haul budget carrier AirAsia X (AIRX.KL) on Thursday appointed Nadda Buranasiri as its new group chief executive officer to take over from its co-founders.

Buranasiri, chief executive of the Thai arm of AirAsia X since 2014, will replace co-CEOs and co-founders Tony Fernandes and Kamarudin Meranun with immediate effect, the company said in a statement.

Fernandes and Kamarudin will become non-executive directors.

In July, Fernandes said AirAsia X was looking to restructure itself into a group holding company along the lines of affiliate AirAsia Group Bhd (AIRA.KL).

He had also said AirAsia X would focus on flying to countries where it would dominate routes, such as Japan, Korea, Australia, China and India, and remove what he called peripheral routes where no growth was seen.

AirAsia X reported a loss for the June quarter, weighed down by higher fuel prices.

Reporting by A. Ananthalakshmi; Editing by Kirsten Donovan

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