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AirAsia X Appoints Farouk Kamal as New Independent Non-Executive Director

AirAsia X, the medium and long-haul airline affiliate of AirAsia Aviation Group, has appointed Farouk Kamal as the carrier’s new Independent Non-Executive Director, effective immediately.

AirAsia X's New Independent Non-Executive Director, Farouk Kamal - Courtesy AirAsia

On Thursday (June 23, 2022), AirAsia X (AAX), the medium and long-haul airline affiliate of AirAsia Aviation Group, announced the appointment of Farouk Kamal as the carrier’s new Independent Non-Executive Director, effective immediately. The appointment follows the airline’s recent confirmation of a new viable and sustainable strategy to transform low-cost long-haul air travel. Mr. Kamal is currently the Chief Investment Officer of Urusharta Jamaah Sdn Bhd (UJ), where he is part of the company’s pioneering team responsible for the management of over RM10 billion in assets. He started his career with Credit Suisse as part of Malaysia’s equities trading and research team, later joining J.P. Morgan’s investment banking team in 2008 and Deutsche Bank's investment banking team in 2013.

In Thursday’s announcment, AirAsia X’s Senior Independent Non-Executive Director and Nomination Committee member, Dato’ Fam Lee Ee, said,

“We are thrilled to welcome onboard Farouk Kamal, who brings a wealth of experience and corporate governance oversight in the areas of finance, investments, equity raising, corporate transformation and diversification. He will help inject a fresh perspective for the new strategic direction of our relaunched AAX and support the upcoming initiatives AAX is preparing to undertake.”

Also commenting on the appointment, AirAsia X’s Co-Founder and Non-Independent Executive Director, Tony Fernandes, said,

“Farouk is coming in at a great time as AAX had record sales this week. We look forward to his contribution as an experienced board member. AAX is an important part of our overall group expansion strategy which completes the broad ecosystem of portfolio companies and overarching transformation goal to become the global leading travel and lifestyle platform of choice.”

AAX’s new Independent Non-Executive Director, Farouk Kamal, added,

”This is an exciting time to join AAX as it resumes operations as a new look airline and embarks on a journey to revolutionise great value medium to long-haul air travel across Asean and beyond, to Asia Pacific, the Middle East and Europe. I’m confident of AAX’s new chapter as a combination carrier, focused equally on cargo and passengers to make flying longer haul commercially viable and as affordable as possible for our guests.”

Farouk Kamal has advised clients on numerous M&A, corporate restructuring, equity and equity-linked, as well as debt capital market transactions, including a number of landmark deals in Malaysia. He is a graduate of the London School of Economics and Political Science with an MSc degree in Finance and Economics, and a BSc in Economics.

Source: AirAsia


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