Fernandes' big gamble to recast AirAsia Group

MALAYSIA's famed airline tycoon Tony Fernandes of AirAsia can't wish his low cost carrier's (LCC) financial woes away with simply a name change. Also, diversification is not a magic panacea for a sick business.

The man credited with shifting the ground for the region's budget travel, and who also owns a hotchpotch of businesses from an English football club, pre-paid mobile services, insurance provider and budget hotels to a British car maker, must surely know that.

However, none of it matters. It is better to do something than nothing - or so the thinking goes.