AirAsia's CEO, Tony Fernandes was quick to take to Twitter once news emerged that flight QZ 8501 had gone missing. As the search continues, it is believed that the plane has crashed into the sea.

I am touched by the massive show of support especially from my fellow airlines. This is my worse nightmare. But there is no stopping.

— Tony Fernandes (@tonyfernandes) December 28, 2014

Mr Fernandes took over the company in December 2001, buying it from the Malaysian government. He paid just €0.29 and took on the company's $40 million of debt. At the time the airline employed 250 people.

When he bought the company he was 37 years old and had no experience in aviation. Born in Malaysia and educated at the London School of Economics, he began his career with Richard Branson's Virgin Communications. He attained the position of financial controller before moving to Warner Music.

Mr Fernandes presents a version of The Apprentice in Asia. He is also the chairman of London-based football club Queens Park Rangers and funded the Caterham Formula One racing team.

AirAsia brought the familiar low-cost airline model to Asia and enjoyed massive success. The airline now transports 230 million passengers every year, employs more than 15,000 people and has subsidiaries in Indonesia, India, Thailand, and the Philippines.

Mr Fernandes has also adopted the low fare airline model to the hotel industry in Asia and the UK.