Capital A Bhd chief executive officer Tan Sri Tony Fernandes intends to leave his current role within five years, including with its budget carrier AirAsia, The Star reported.

Fernandes said the start of 2024 is “definitely my last five years” before moving on to an advisory capacity, the paper cited him as saying in an interview. 

He plans to be based mainly in the group’s corporate office in Kuala Lumpur, where the logistics, travel insurance and mobile network businesses operate, from AirAsia’s aviation operations building on the outskirts of the city near the airport, the paper said.

While Capital A’s biggest source of revenue is AirAsia, the group has a growing segment of non-aviation digital businesses for logistics, online travel agency, ride-hailing, and financial technology across the region. 

Fernandes previously said he expects the non-aviation businesses to become the company’s biggest source of revenue with the next few years. 

AirAsia will announce a corporate restructuring exercise on Monday, following the departure of CEO Riad Asmat last month.  

  - Bloomberg