Capital A Bhd CEO Tony Fernandes said Voo will focus on optimising and enhancing efficiencies across core airline functions, as well as identifying and mitigating potential risks to improve the airline’s overall performance.

“With a proven track record in the airline industry including over 11 years with AirAsia, he brings a wealth of experience to the role, having previously served in leadership positions including as CEO of the Civil Aviation Authority of Malaysia (CAAM),” he said during the AirAsia Aviation Group announcement today.

Meanwhile, he said Farouk’s corporate duties encompass finance, corporate finance, aircraft leasing, legal, investor relations, and strategy.

“He will also provide oversight on internal audit and risk management for the group,” he said.

Farouk was previously the CEO of Urusharta Jamaah Sdn Bhd, the special purpose vehicle (SPV) of the finance ministry that assumed control of Lembaga Tabung Haji’s distressed assets in 2019.

Fernandes said the appointments were in line with AirAsia’s preparation to embark on its next phase of growth to shape the group’s future.

Meanwhile, AirAsia Aviation Group CEO Bo Lingam said the synergy between the seasoned leaders and the existing team is expected to fuel further innovation.

“Their combined efforts will allow us to continue to focus on our strategic decision-making, long-term planning, and the group’s overall organisational direction,” he added.

As at 4.11pm, Capital A’s share price was up 1 sen or 1.20% at 84 sen, giving it a market capitalisation of RM3.60 billion.