In a joint statement today, AirAsia and Asia House said, Fernandes would receive the prestigious award at a gala dinner in Hong Kong on Nov 27.

The statement said the award, issued annually by Asia House, the London-based Centre of Expertise on Asia, celebrated business leaders who had driven positive economic and social changes in the region.

“Previous winners included Hitachi chairman Hiroaki Nakanishi, Temasek CEO Ho Ching, Tata Group chairman Ratan Tata and CIMB Group chairman Nazir Razak,” it said.

It said under Fernandes’ leadership, AirAsia had grown to become the region’s leading low-cost airline, transforming the Asian aviation industry and making it possible for millions of people to travel by air.

Asia House’s chairman Lord Green said as a leading centre of expertise on Asian business and trade, it was important for Asia House to recognise those who made a positive contribution to the Asian economic landscape.

“Fernandes had been a tireless advocate of the Association of Southeast Asian Nations (Asean) – an ethos which we share at Asia House,” he said.

Meanwhile, Fernandes said, it was an honour to be recognised for championing Asean.

“I am an Aseanist. I believe the future of Asia-Pacific lies as much with Asean as it does with China or India,” he said.