AirAsia was originally owned by DRB-HICOM owned by the Government of Malaysia but the airline has a heavy burden and eventually purchased by former Time Warner executive, Tony Fernandes, the symbolic price of 1 ringgit on December 2, 2001. Tony do a turnaround and AirAsia managed to record a profit in 2002 with various new routes and promotional prices as low as 10 RM compete with Malaysia Airlines.
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