He has been named among the 100 most influential people in the world by TIME magazine.
"It is a tremendous honour to be included in TIME's top 100 list -- I was shocked when I first received the news but I am very proud and humbled," Fernandes said in a statement on Friday.
This year has been challenging and the carrier is making strides, he added.
AirAsia will expand its network across Association of Southeast Asian Nations and beyond, he said.
Writing about Fernandes in the magazine, Virgin Group Founder Richard Branson said the end of every journey is home.
"With his strength, candor and compassion, Tony helps get AirAsia's passengers home every day.
“And he continues to lead a company that has earned the trust of travellers," Branson noted.
The list of influential people also features Prime Minister Narendra Modi and other Indians, including ICICI Bank managing director Chanda Kochhar and Microsoft chief executive officer Satya Nadella.
Image: AirAsia chief Tony Fernandes talks to his staff. Photograph: Reuters