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Airasia: The Sky’s The Limit AirAsia: The Sky’s the Limit AirAsia: The Sky’s the Limit AirAsia was the first airline in Asia to introduce the budget, no-frills airline concept. It was founded in 2001 by Chief Executive Officer (CEO), Tony Fernandes and his three partners when their company, Tune Asia Sdn. Bhd., bought the fledgling.