AirAsia CEO Fernandes defers retirement, renews contract for 5 yrs

AirAsia parent Capital A CEO Tony Fernandes on Wednesday said he has agreed to defer retirement plans and has signed a new five-year contract to continue as chief executive of the company. Notably, in January he said he wishes to retire within next five years. "Retirement plans had to be put on hold to ensure we survive," 59-year-old Fernandes said.